Forecast and Technical Analysis Gold Futures on January 15, 2016


The price of gold futures again changed direction and fixed below the moving average. Senior Channel directed downward, indicating that the downward direction of movement of the global trend. Junior channel directed upward, which means the upward direction of travel in the medium term. At the moment the price is below the moving average, and below the level of Murray's "6/8" indicates that the downward movement in the near future. The first target for the downward movement, so is the level of Murray's "5/8" - 1078.13, which has already been achieved. If the price will overcome this level of Murray, the new target will be the actual level of Murray's "4/8" - 1062.50. The moving average is pointing down, and the price is below it, so now more likely downward movement in the near future. Heiken Ashi colored the last bars in blue, signaling the local downward movement. The CCI indicator is about -100, indicating that the weak oversold gold futures.

4-hour Timeframe Gold Futures

Forecast and technical analysis gold futures on January 15, 2016

Technical Data Gold Futures:

  • Senior channel linear regression: direction - Down.
  • Junior channel linear regression: direction - Upward.
  • Moving average (20; smoothed) - Down.
  • CCI: - 98.0583.

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 short, or sell positions with the target of 1078.13. Next target 1062.50. Stop Loss level is recommended to place above the moving average. Take Profit can be placed above the nearest levels Murray. Long, or buy positions on gold futures are not currently relevant.