Gold Price: Break Down Of 1333 Will Open Target On 1320
London (Sept 24) Weekly forecast, September 19 - 23: downtrend to 1294
Main Scenario
Gold is trading along an downtrend with target on 1294, that may be expected to continue, while pair is trading below resistance level 1320.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1320, which will be followed by moving up to resistance level 1350.
Monthly forecast, August/September 2016: downtrend to 1293
Main Scenario
Gold is rebounded from strongest resistance 1366 - 1350 and now is trading in downtrend with target on support 1293, that may be expected to continue, while pair is trading below resistance level 1366.
Alternative Scenario
An downtrend will start as soon, as gold drops below support level 1290, which will be followed by moving down to support level 1212.
Quarterly Forecast, July - September, 2016
Main Scenario
Gold 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
An downtrend will start as soon, as gold drops below support level 1290, which will be followed by moving down to support level 1212 and 1133.
Gold is trading along an downtrend with target on 970, and if it keeps on moving down below that level, we may expect it to reach support level 670, but in other way from 970 we can expect correction on resistance level 1190.
Alternative Scenario
An uptrend will start as soon, as gold rises above resistance level 1325, which will be followed by moving up to resistance level 1560 - 1750.
Source: Investing.com
