Gold: Break Of Resistance 1095 Can Start Uptrend To 1115
Anton Kolhanov | Jan 20, 2016 03:55AM ET
Main scenario:
The pair is trading along a sideways trend between resistance 1095 and support level 1076.
An uptrend will start as soon as the pair rises above resistance level 1095, which will be followed by moving up to resistance level 1115.
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Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1076, which will be followed by moving down to support level 1055.
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Previous forecast:
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Monthly forecast, January 2016
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Main scenario:
The pair is trading along a sideways trend between support 1050 and resistance 1076 levels.
The downtrend may be expected to continue in case the market drops below support level 1050, which will be followed by reaching support level 1008.
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Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1076, which will be followed by moving up to resistance level 1095 and then to 1135.
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Previous forecast:
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Quarterly forecast, January - March, 2016
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Main scenario:
The pair is trading along a downtrend with target on 970 that may be expected to continue, while pair is trading below resistance level 1095.
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Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1095, which will be followed by moving up to resistance level 1190.
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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 correction on resistance level 1190.
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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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