Gold, Tuesday forecast, October 29
Today market does not have any important news, so it will be sideways in range and only tomorrow on Wednesday will have trend impulse after strong US news such as “ADP” and “Fed % rates”.
Forecast:
The downtrend may be expected to continue, while gold trading below resistance level 1493.8, which will be followed by reaching support level 1488 - 1483. An uptrend will start as soon, as gold rises above resistance level 1493.8, which will be followed by moving up to resistance level 1500.6.
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Weekly forecast, October 28 - November 1
The downtrend may be expected to continue, while gold is trading below resistance level 1516.2, which will be followed by reaching support level 1487. An uptrend will start as soon, as gold rises above resistance level 1516.2, which will be followed by moving up to resistance level 1534.2.
(Click on image to enlarge)
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