Gold Sideways Trend Between 1247 - 1254

London (Apr 12) Weekly forecast, Apr 11 - 15: rebounding from 1260 to support 1215

Main scenario:

The pair is trading along a sideways trend between support 1241 and resistance 1260.

A downtrend will start as soon as the pair drops below support level 1241, which will be followed by moving down to support level 1215.

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.

Monthly forecast, April 2016: downtrend to 1190 and then 1134

Main scenario:

The pair is trading along a downtrend with target on 1190 and if it keeps on moving down below that level, we may expect the pair to reach support level 1134, in another way market can have a correction to resistance 1225.

Alternative scenario:

An uptrend will start as soon as the pair rises above resistance level 1241, which will be followed by moving up to resistance level 1260 and 1282.

Source: Investing.com