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MTECHTIPS Gold: Double Top With Target On 1050
Main scenario:
The pair is trading along a sideways trend as "double top" pattern, between resistance 1107 and support 1092 levels. A downtrend will start as soon as the pair drops below support level 1092, which will be followed by moving down to support level 1076 and then to 1062, 1050. Alternative scenario: The uptrend may be expected to continue in case the market rises above resistance level 1107, which will be followed by reaching resistance level 1135.ain scenario: The pair is trading along a sideways trend between support 1050 and resistance 1076 levels. The downtrend may be expected to continue in case the market drops below support level 1050, which will be followed by reaching support level 1008. Alternative scenario: An uptrend will start as soon as the pair rises above resistance level 1076, which will be followed by moving up to resistance level 1095 and then to 1135.
The pair is trading along a sideways trend as "double top" pattern, between resistance 1107 and support 1092 levels. A downtrend will start as soon as the pair drops below support level 1092, which will be followed by moving down to support level 1076 and then to 1062, 1050. Alternative scenario: The uptrend may be expected to continue in case the market rises above resistance level 1107, which will be followed by reaching resistance level 1135.ain scenario: The pair is trading along a sideways trend between support 1050 and resistance 1076 levels. The downtrend may be expected to continue in case the market drops below support level 1050, which will be followed by reaching support level 1008. Alternative scenario: An uptrend will start as soon as the pair rises above resistance level 1076, which will be followed by moving up to resistance level 1095 and then to 1135.
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