Note: The forecast below can change. Live updates only in the trading room.
GOLD Forecast. Medium Long term outlook.
Current price:1318.00. (Weekly chart below)
As the title indicates, we see the metal plunging down to 1270.00 (around, depending on the volume in the markets), so it is happening now. Sell with caution recommended.
A rebound to happen from around those prices 1270.00 (around) (blue line in the chart below) and gold will start to head up to 1320 (around) again.
A state of range is also possible, so gold can possibly stay in a range, top 1350.00, bottom 1280.00 for some time.
GOLD is to SELL now with caution, SL 1340 or at your discretion. But then BUY on the rebound around 1280, 1270... The rebound might happen around mid-March.
A BUYSTOP order is also recommended.
Buystop @ 1326.70 SL 1313.00 - Can use Trailing.
Can GOLD make a spike up instead of going down now (Feb 9th)?
After the selloff of last week, markets are nervous. If the Dow, Nasdaq... continue to drop, then gold can make this spike up or stay high, investors will look for 'Safe Haven'.
(Updates and signals real time in the Trading room)
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