GOLD forecast
11 August 2010
Today chart
Current trend is descending with target 1191.
The ascending trend can start its development in a case of the pair movement higher the level of 1205, after that the arrival on the resistance level of 1211.50 will happen.
Forecast of the week, 08/02–08/06
Current is ascending with target on the level 1228 / 1233. Support level is on the 1200 and 1190.
The downward trend can start its development in a case of the pair movement below the level of 1186, after that the arrival on the support level of 1161 will happen.
Forecast monthly, August.
The gold has quit from the “F-F+” uptrend, and now we can observe development of the “B-B+” downtrend with the downside target set at support level 1115 / 1090. Intermediate supports are located at levels 1161 and 1135. The “B-B+” trend development is accompanied by breaking of the “D-D+” uptrend’s lower bound, which may prove to be a false break in case the market will fail holding ground below level 1198 and rises higher. That will provoke development of an uptrend with the upside target set at resistance level 1233 / 42.
Current trend is descending with target 1191.
The ascending trend can start its development in a case of the pair movement higher the level of 1205, after that the arrival on the resistance level of 1211.50 will happen.
Forecast of the week, 08/02–08/06
Current is ascending with target on the level 1228 / 1233. Support level is on the 1200 and 1190.
The downward trend can start its development in a case of the pair movement below the level of 1186, after that the arrival on the support level of 1161 will happen.
Forecast monthly, August.
The gold has quit from the “F-F+” uptrend, and now we can observe development of the “B-B+” downtrend with the downside target set at support level 1115 / 1090. Intermediate supports are located at levels 1161 and 1135. The “B-B+” trend development is accompanied by breaking of the “D-D+” uptrend’s lower bound, which may prove to be a false break in case the market will fail holding ground below level 1198 and rises higher. That will provoke development of an uptrend with the upside target set at resistance level 1233 / 42.
Forecast quarterly, August–October
At this moment we can observe the “D-D+” uptrend’s completion, as the market breaks its boundary, and the 5th wave of this trend has been completed as well. Starting of a downtrend will be confirmed if the market drops below level 1170, after which we may expect the gold to move down along the “a” wave to level 1115 / 1090 (green sideways trend’s lower bound). That level is likely to offer a decent support, which will be followed by forming of the “b” correctional wave towards level 1177 / 1090. Then the downtrend development will be resumed within the “c” wave having the downside target set at level 970 (the “G-G+” trend’s lower bound).
At this moment we can observe the “D-D+” uptrend’s completion, as the market breaks its boundary, and the 5th wave of this trend has been completed as well. Starting of a downtrend will be confirmed if the market drops below level 1170, after which we may expect the gold to move down along the “a” wave to level 1115 / 1090 (green sideways trend’s lower bound). That level is likely to offer a decent support, which will be followed by forming of the “b” correctional wave towards level 1177 / 1090. Then the downtrend development will be resumed within the “c” wave having the downside target set at level 970 (the “G-G+” trend’s lower bound).