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GOLD, forecast on Monday, 05/11/12

The pair is trading along an downtrend.

The downtrend may be expected to continue from current level, which will be followed by reaching support level 1671 and then to 1662.

An uptrend will start as soon, as the pair rises above resistance level 1692, which will be followed by moving up to resistance level 1702 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1710, 1719.

Supports: 1671, 1662

Resistances: 1683, 1692, 1702, 1710, 1719