Weekly Forecast, 09 - 13 December
Main scenario:
The pair is trading along an sideways trend.
The downtrend may be expected to continue in case the market drops below support level 1236, which will be followed by reaching support level 1200.
The pair is trading along an sideways trend.
The downtrend may be expected to continue in case the market drops below support level 1236, which will be followed by reaching support level 1200.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1251, which will be followed by moving up to resistance level 1270 and then to 1289. And if it keeps on moving up above that level, we may expect the pair to reach resistance level 1330.
An uptrend will start as soon, as the pair rises above resistance level 1251, which will be followed by moving up to resistance level 1270 and then to 1289. And if it keeps on moving up above that level, we may expect the pair to reach resistance level 1330.
S/R levels:
Supports: 1236 (main), 1221 (strong), 1200
Resistances: 1251 (main), 1270 (strong), 1289 (main), 1330 (strong)
Supports: 1236 (main), 1221 (strong), 1200
Resistances: 1251 (main), 1270 (strong), 1289 (main), 1330 (strong)
Today’s trends for commodity
ReplyDeleteGOLD (5 FEB.) TREND: CONSOLIDATE
RES 1: 28550
RES 2: 28750
SUPP 1: 28150
SUPP 2: 28000
STRATEGY: SELL ON HIGH
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