Gold: Correction To 1260
Anton Kolhanov | Mar 22, 2016 06:47AM ET
Gold
Main scenario:
Gold is trading along a sideways trend, where rebounding from support 1237 will start local uptrend to resistance level 1260.
Alternative scenario:
A downtrend will start as soon as it drops below support level 1237, which will be followed by moving down to support level 1222.
Previous forecast:
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Main scenario:
Gold is trading along a downtrend with target on 1222, and if it keeps on moving down below that level we may expect the pair to reach support level 1190 .
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1260, which will be followed by moving up to resistance level 1282.
Previous forecast:
Monthly forecast, March 2016: sideways trend between 1190 and 1253
Main scenario:
Gold is trading along a sideways trend between support 1190 and resistance 1253.
A downtrend will start as soon as it drops below support level 1190, which will be followed by moving down to support level 1114.
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Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1253, which will be followed by moving up to resistance level 1282 and 1318.
Previous forecast:
Quarterly forecast, January - March, 2016
Main scenario:
Gold is trading along a downtrend with target on 970 that may be expected to continue while pair is trading below resistance level 1095.
Alternative scenario:
An uptrend will start as soon as it rises above resistance level 1095, which will be followed by moving up to resistance level 1190.
Previous forecast:
Main scenario:
Gold is trading along a downtrend with target on 970, and if it keeps on moving down below that level then we may expect it to reach support level 670. In the other way from 970 we can expect correction 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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