Gold: Further Break Down Of 1176 Will Start Downtrend To 1162
Anton Kolhanov | Feb 11, 2016 03:11AM ET
Main scenario:
The pair is trading along a sideways trend between support 1176 (where now is going) and resistance 1200.
The uptrend may be expected to continue in case the market rises above resistance level 1200, which will be followed by reaching resistance level 1222.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1176, which will be followed by moving down to support level 1162 and then to 1142.
Previous forecast:
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Main scenario:
The pair is trading along an uptrend with target on 1190 and may be expected to continue, while pair is trading above support level 1156.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1156, which will be followed by moving down to support level 1024.
Previous forecast:
Monthly forecast, February 2016: uptrend is continued to 1135
Main scenario:
The pair is trading along an uptrend with target on 1135 and may be expected to continue, while pair is trading above support level 1108. If market will keep on moving up above 1135, we may expect the pair to reach resistance level 1190.
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Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1108, which will be followed by moving down to support level 1088 and then to 1055.
Previous forecast:
Quarterly forecast, January - March, 2016
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.
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.
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 ways 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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