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Gold Uptrend With Target On 1358

Published 07/05/2016, 05:19 AM
Updated 07/09/2023, 06:31 AM

Gold

Main scenario:
The pair is trading along an uptrend with target on 1358.
A downtrend will start as soon as the pair drops below support level 1338, which will be followed by moving down to support level 1325.

Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1255, which will be followed by moving down to support level 1244.

Gold H1 Chart

Previous forecast:
Gold Hourly Chart

Weekly forecast, July 04 - 08: uptrend with target on 1395

Main scenario:
The pair is trading along an uptrend with target on 1395, that may be expected to continue, while pair is trading above support level 1325.

Alternative scenario:
A downtrend will start as soon, as the pair drops below support level 1325, which will be followed by moving down to support level 1290.

Gold H4 Chart

Previous forecast:
Gold H4 Chart

Monthly forecast, July 2016: uptrend with target on 1395

Main scenario:
The pair is trading along an uptrend with target on 1395, that may be expected to continue, while pair is trading above support level 1290.

Alternative scenario:
A downtrend will start as soon, as the pair drops below support level 1290, which will be followed by moving down to support level 1212.

Gold Daily Chart

Previous forecast:
Gold Daily Chart

Quarterly forecast, July - September, 2016

Main scenario:
The pair 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:
A downtrend will start as soon, as the pair drops below support level 1290, which will be followed by moving down to support level 1212 and 1133.

Gold Weekly Chart

Previous forecast:
Gold Weekly Chart

Yearly forecast, 2016

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.

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.

Gold Monthly Chart

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