Forecast and Technical Analysis of Gold Futures on January 14, 2016


The price of gold futures turned and fixed above the moving average line. Senior Channel directed downward, indicating that the downward direction of movement of the global trend. Junior channel directed upward, which means the upward direction and in the medium term. At the moment the price is above the moving average and higher than Murray's "5/8" indicates that the upward movement in the near future. The first target for the upward movement, so is the level of Murray's "7/8" - 1109.38. If the price will overcome this level of Murray, the new target will be the level of Murray's "8/8" - 1125.00. The moving average is directed sideways, and the price is above it, so now more likely upward movement in the near future. Heiken Ashi colored the last bars in purple color that indicates a local upward movement. The CCI indicator is near zero, which indicates the absence of any overbought and oversold gold futures.

4-hour timeframe

Forecast and Technical Analysis of Gold Futures on January 14, 2016

Technical Data Gold Futures:

  • Senior channel linear regression: direction - Down.
  • Junior channel linear regression: direction - Upward.
  • Moving average (20; smoothed) - Sideways.
  • CCI: - 40.0187.

Support Levels Gold Futures:

  • S1 - 1078,13
  • S2 - 1062,50
  • S3 - 1046,88

Resistance Levels Gold Futures:

  • R1 - 1093,75
  • R2 - 1109,38
  • R3 - 1125,00

Trading Recommendations Gold Futures:
Now it is recommended to consider long, or buy positions with a target to 1109.38. Next target is 1125.00. Stop Loss level is recommended to place below the moving average. Take profit can be placed just below the nearest levels Murray. Short, or sell positions are not currently relevant.