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Gold Forecast: Trading Along A Downtrend

Published 04/14/2015, 05:37 AM
Updated 07/09/2023, 06:31 AM

Gold Main scenario:
The pair is trading along a downtrend.
The uptrend may be expected to continue while pair is trading above support level 1200, which will be followed by reaching resistance level 1183.

Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1200, which will be followed by moving up to resistance level 1208.

Gold Hourly Chart
Previous forecast:
Gold Previous Hourly Forecast

Weekly Forecast, 13 - 17 April

Main scenario:
The pair is trading along a downtrend (from resistance level 1215).
The downtrend may be expected to continue while pair is trading below resistance level 1215, which will be followed by reaching support level 1194, 1183, 1170 and 1160.

Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1215, which will be followed by moving up to resistance level 1231.

Gold 4-Hour Chart
Previous forecast:
Gold Previous 4-Hour Forecast

Monthly forecast, April

Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1160, which will be followed by reaching resistance level 1238 - 1256.

Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1160, which will be followed by moving down to support level 1080.

Gold Daily Chart
Previous forecast:
Gold Previous Daily Forecast

Long-term Forecast: January - June 2015

Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1325, which will be followed by reaching support level 1080 and 975.

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.
Gold Monthly Chart

Gold Weekly Chart

Previous forecast:
Gold Previous Weekly Forecast

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