Monthly chart: Together with the oscillator, the price is moving upwards as ADX is falling. It means that index will reverse downwards at least to the middle Bollinger band (1964.1) – not above the upper Bollinger band (2182.0).
Weekly chart:: even better shaped resistance on 2132.3 (the upper Bollinger band ), support is on 2052.6 (the bottom band). ADX is growing, but meanwhile in the "weak" area, so we are waiting fluctuations of the price within the envelopes.
Day chart:: even better shaped resistance on 2091.8 (the middle Bollinger band). Target of a probable local decline is the bottom band (2043.5)
Expectations: growth to 2091.8 and then decline to 2043.5
1) Sales from 2091.8 ê 2043.5
Monthly chart: scenario is not changing, bears are breaking through in the direction of the bottom Bollinger band (43.28)
Weekly chart::a pullback is possible in the direction of the middle Bollinger band (62.66), from where we can once again add Sell position.
Day chart:: we confirm resistance on 62.66 and target 54.26
Expectations: 1) Growth to 62.66 and then decline to 54.26. 2) Direct decline to 54.26.
1) We keep sales open
2) If the price grows to 62.66, we shall add a position.
Monthly chart:bears' pressure is getting stronger. Key support is 1119.03 and it allows to preserve flat.
Weekly chart: As long as ADX is passive, support from the bottom Bollinger band (1148.52) is keeping gold from decline. Correction is possible up to the upper band (1236.44)
Day chart: We've got ADX/RSI, so resistance 1174.73 (the middle Bollinger band ) can be hit
Expectations: growth to 1174.73 and decline to1148.52
1) Sales from 1174.73 to 1148.52Publication source