GOLD, Weekly Forecast, May 23 - 27: Break Up of 1260 will Open Uptrend Target on 1294

GOLD, Weekly Forecast, May 23 - 27: Break Up of 1260 will Open Uptrend Target on 1294

23 May 2016, 13:00
Roberto Jacobs
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GOLD, Weekly Forecast, May 23 - 27: Break Up of 1260 will Open Uptrend Target on 1294

Main scenario:
The pair is trading along an sideways trend between support 1246 and resistance 1260, where break up of 1260 will open target for uptrend on resistance level 1277 and 1294.

Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1246, which will be followed by moving down to support level 1230.


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