Forex4you - Analytics

    Forex4you

    565.50 6.50/10
    60% of positive reviews
    Real

    Technical analysis for GOLD on 23.11.2015

    The medium-term bearish trend for GOLD has halted at 1064.15 support

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 1400 pips Max. 1085.10
    Min. 1050.00

    gold3

     

    After the bears managed to escape the descending channel, their strength weakened. However, correction up, which occurred from 1064.15 support, has halted at 1085.10 resistance.

    The price is currently falling from 1085.15 resistance again. The decline is expected to reach the last week’s low at 1064.15 support.

    If bears manage to break and hold below this barrier, medium-term downtrend will continue. Potential decline target is situated at 1050.00.

    Alternative scenario:    

    The breakout of 1085.10 resistance, on the other hand, will be a signal for correction up, which will open the way to 1100.00.

     

    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!

    The medium-term bearish trend for GOLD has halted at 1064.15 support

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 1400 pips Max. 1085.10
    Min. 1050.00

    gold3

     

    After the bears managed to escape the descending channel, their strength weakened. However, correction up, which occurred from 1064.15 support, has halted at 1085.10 resistance.

    The price is currently falling from 1085.15 resistance again. The decline is expected to reach the last week’s low at 1064.15 support.

    If bears manage to break and hold below this barrier, medium-term downtrend will continue. Potential decline target is situated at 1050.00.

    Alternative scenario:    

    The breakout of 1085.10 resistance, on the other hand, will be a signal for correction up, which will open the way to 1100.00.

     

    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!


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree