Gold will continue uptrend above 1509 with target on 1516

Anton Kolhanov Anton Kolhanov

GOLD, Wednesday forecast, October 9

An downtrend will start as soon, as the pair drops below support level 1503.8, which will be followed by moving down to support level 1494. An uptrend will start as soon, as the pair rises above resistance level 1509.4, which will be followed by moving up to resistance level 1516.2.

Weekly forecast, October 7 - 11

The pair is trading along an sideways trend between support 1483.2 and resistance 1516.2. An uptrend will start as soon, as the pair rises above resistance level 1516.2, which will be followed by moving up to resistance level 1534.2. An downtrend will start as soon, as the pair drops below support level 1483.2, which will be followed by moving down to support level 1459.

Author

Anton Kolhanov

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

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