Gold: October Uptrend To 1294
Anton Kolhanov | Oct 19, 2016 05:16AM ET
Main scenario:
The market is trading along an uptrend with target on 1274 and 1294, that may be expected to continue, while market is trading above support level 1249.
Alternative scenario:
A downtrend will start as soon as the market drops below support level 1249, which will be followed by a move down to support level 1215.
Previous forecast:
Monthly forecast, October 2016: downtrend to 1294 and possible 1255
Main scenario:
The market is trading along a downtrend with target on 1294 and if it keeps on moving down below that level, we may expect the market to reach support level 1255. The downtrend may be expected to continue, while market is trading below resistance level 1310.
Alternative scenario:
An uptrend will start as soon as the market rises above resistance level 1310, which will be followed by a move up to resistance level 1337.
Previous forecast:
Quarterly forecast, July - September, 2016
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Main scenario:
The pair is trading along an uptrend with target on 1470, that may be expected to continue, while pair is trading above support level 1290.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1290, which will be followed by moving down to support level 1212 and 1133.
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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