Gold: Continuation Of Downtrend With Target On 1215
Anton Kolhanov | May 25, 2016 06:14AM ET
Main scenario:
The pair is trading along a downtrend with target on 1215, that may be expected to continue, while pair is trading below resistance level 1230.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1230, which will be followed by moving up to resistance level 1246.
previous forecast:
/h2
Main scenario:
The pair is trading along a sideways trend between support 1246 and resistance 1260, where break up of 1260 will open target for uptrend on resistance level 1277 and 1294.
Alternative scenario:
A downtrend will start as soon, as the pair drops below support level 1246, which will be followed by moving down to support level 1230.
previous forecast:
Monthly forecast, May 2016: with break down of 1260 market will fall to 1190
Main scenario:
The pair is trading along a sideways trend between support 1260 and resistance 1300.
A downtrend will start as soon, as the pair drops below support level 1260, which will be followed by moving down to support level 1190.
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Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1300, which will be followed by moving up to resistance level 1395.
previous forecast:
Quarterly forecast, April - June, 2016
Main scenario:
The pair is trading along an uptrend, that may be expected to continue in case the market rises above resistance level 1300, which will be followed by reaching resistance level 1395, 1470 and 1560.
Alternative scenario:
A downtrend will start as soon, as the pair drops below support level 1260, which will be followed by moving down to support level 1130 and 1058.
previous forecast:
Main scenario:
The pair is trading along a downtrend with target on 970, and if it keeps on moving down below that level, we may expect the pair to reach support level 670, but in other way from 970 we can expect correcton on resistance level 1190.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1325, which will be followed by moving up to resistance level 1560 - 1750.
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