The downtrend may be expected to continue, while gold is trading below resistance level 1494.2, which will be followed by reaching support level 1480.8.
Gold, Thursday forecast, October 17
The downtrend may be expected to continue, while gold is trading below resistance level 1494.2, which will be followed by reaching support level 1480.8 and if it keeps on moving down below that level, we may expect gold to reach support level 1472.
An uptrend will start as soon, as gold rises above resistance level 1494.2, which will be followed by moving up to resistance level 1505.4.
(Click on image to enlarge)
All information provided by Anton Kolhanov is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell securities. Anton Kolhanov is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained. You should do your own thorough research before making any investment decisions and seek advice from an independent financial advisor.
Comments
Log in or sign up to join the conversation.