GOLD forecast
23 June 2010
Today chart
Forecast of the week, 06/21–06/25
The market has been trading along the uptrend for a rather long time now. And after it got over level 1255, the upside intention grew stronger. The gold’s current target is set at resistance level 1288 (see forecast monthly).
A downtrend may be started in case the gold retreats below key support level 1255, followed by drop to intermediate support 1231 and then to major support 1220 (the “F-F+” uptrend’s lower bound).
Forecast monthly, June
The market is trading along an uptrend; however signs of trend’s turn are present. That’s why we should not expect the uptrend to continue unless the gold confidently rises above resistance level 1232, which will be followed by moving up to level 1286.
Otherwise, if the gold goes under level 1182, a downtrend will be started with the drop target set at support levels 1132–1114.
Forecast of the week, 06/21–06/25
The market has been trading along the uptrend for a rather long time now. And after it got over level 1255, the upside intention grew stronger. The gold’s current target is set at resistance level 1288 (see forecast monthly).
A downtrend may be started in case the gold retreats below key support level 1255, followed by drop to intermediate support 1231 and then to major support 1220 (the “F-F+” uptrend’s lower bound).
Forecast monthly, June
The market is trading along an uptrend; however signs of trend’s turn are present. That’s why we should not expect the uptrend to continue unless the gold confidently rises above resistance level 1232, which will be followed by moving up to level 1286.
Otherwise, if the gold goes under level 1182, a downtrend will be started with the drop target set at support levels 1132–1114.
Forecast for the next quarter, April - June. Weekly graph (dated 05/10/10)
The market is trading along the uptrend, namely in its 5th upwave, having the upside target seen at level 1400. A strong resistance is found at level 1280 and it is currently serving as the market’s local target. Upon touching that level, the gold will also need to get over level 1310 in order to make its way to 1400. Support is found at level 1188.
In case the market goes below level 1137, downtrend development will come in action with the drop target set to support level 1150 (“K” trendline). If the gold drops further below level 1140, it will get to support 960 (“Z” trendline), which is the market’s drop target level.
The market is trading along the uptrend, namely in its 5th upwave, having the upside target seen at level 1400. A strong resistance is found at level 1280 and it is currently serving as the market’s local target. Upon touching that level, the gold will also need to get over level 1310 in order to make its way to 1400. Support is found at level 1188.
In case the market goes below level 1137, downtrend development will come in action with the drop target set to support level 1150 (“K” trendline). If the gold drops further below level 1140, it will get to support 960 (“Z” trendline), which is the market’s drop target level.
