Monthly: the past week significantly reduced the bearish outlook of the index. And, although the ADX within this frame has not shown the trend of activity, now there is a threat that the price would reach new Highs.
Weekly: the same picture. A significant northern attack with ADX very close to the active zone - a notable sign of a breakthrough above resistance 2111.7
Daily chart:at the local level we have already got ADX under a bullish pressure, therefore 2111.7 resistance will probably under a strong load
The main scenario - a breakthrough above 2111.7 so that the price will reach new Highs
The alternative scenario - a bounce down from 2111.7.
Solutions: Buy to 2111.7 and above
Monthly So far, nothing changes: the current scenario implies growth to 57.87 (middle Bollinger band)
Weekly: a very active trend ADX, that just says about a bullish scenario towards 57.87
Daily chart: also an active ADX zone, bears have not got a chance to seize the initiative yet. At the local level we notice resistance 51.62 (upper Bollinger band)
The main scenario - growth to 51.62
The alternative scenario - a breakthrough above 51.62 with upside potential to 57.87
Solutions: Buy to 51.62 (and 57.87 in the medium-term)
Monthly: a justified scenario with a drop to the lower Bollinger band (1057.97), the last week we saw a very active movement
Weekly: At the local level we notice the bullish pattern Over&Under from zones 1073.76, which increases the probability of a decline to this area
Daily chart: An active bearish trend ADX also favors drop of gold to 1073.76.
Expectations: drop from current levels towards 1073.76.
Solutions: we sell to 1073.76 (probably the price will reach the target with a delay and will have that done in the medium run for more than one week).
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