Forecast and Technical Analysis of Gold Futures on January 25, 2016


The price of gold futures price uptrend can resume, having worked moving average. Senior Channel directed downward, indicating that the downward direction of movement of the global trend. Junior channel directed upwards, which means an upward movement in the medium term. At the moment the price is above the moving average and higher than Murray's "6/8" indicates that the upward movement in the near future. The first target for the upward movement is the level of Murray's "7/8" - 1109.38. If the price overcomes the first target, the actual new target will be the level of Murray's "8/8" - 1125.00. The moving average is pointing up, 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 the level of 100, which indicates a weak overbought gold futures.

4-hour Timeframe Gold Futures

Forecast and Technical Analysis of Gold Futures on January 25, 2016

Technical Data Gold Futures:

  • Senior channel linear regression: direction - Down.
  • Junior channel linear regression: direction - Upward.
  • Moving average (20; smoothed) - Upward.
  • CCI: 79.3064.

Support Levels Gold Futures:

  • S1 – 1093.75.
  • S2 – 1078.13.
  • S3 – 1062.50.

Resistance Levels Gold Futures:

  • R1 – 1109.38.
  • R2 – 1125.00.
  • R3 – 1140.63.

Trading Recommendations Gold Futures:
Now it is recommended to consider long, or buy positions with a target to 1109.38. Next Target, in the case of the first to overcome 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.