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    Technical analysis for GOLD on 15.10.2015

    GOLD broke strong resistance at 1170.11

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 2330 pips Max. 1187.70
    Min. 1156.65

    gold3

    Another test of 1170.11 resistance was followed by the breakout at increased volume. The uptrend keeps strengthening.

    Growth has recently halted at 1189.35 resistance. After a short-term pullback down, the price will most likely grow back up and break this barrier.

    Potential growth target is situated at the intraday resistance of 1207.15. The test of the level will most likely trigger consolidation.

    Alternative scenario:

    gold12

    Long consolidation below 1189.33 resistance will trigger downside correction into 1170.11 support. Then, bullish trend will recommence.

     

    Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!

     

    GOLD broke strong resistance at 1170.11

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 2330 pips Max. 1187.70
    Min. 1156.65

    gold3

    Another test of 1170.11 resistance was followed by the breakout at increased volume. The uptrend keeps strengthening.

    Growth has recently halted at 1189.35 resistance. After a short-term pullback down, the price will most likely grow back up and break this barrier.

    Potential growth target is situated at the intraday resistance of 1207.15. The test of the level will most likely trigger consolidation.

    Alternative scenario:

    gold12

    Long consolidation below 1189.33 resistance will trigger downside correction into 1170.11 support. Then, bullish trend will recommence.

     

    Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!


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