GOLD have downtrend to 1480 while trading below 1494

Anton Kolhanov Anton Kolhanov

GOLD, Thursday forecast, October 17

The downtrend may be expected to continue, while pair 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 the pair to reach support level 1472.
An uptrend will start as soon, as the pair rises above resistance level 1494.2, which will be followed by moving up to resistance level 1505.4.

Author

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

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