Main Scenario: As long as it stays above 1483, our main expectation is POSITIVE!
In addition, as long as the 4-hour close above the 1500 level continues, it may further strengthen our expectations.
Target Expectation: 1511 – 1520 – 1529
Considerations Supporting The Scenario: The trend changes with the movements on the top of the downward trend. This change reinforces our positive expectation for the gold price.
Alternative Scenario: In case of 4-hour closing below 1483 level, the alternative expectation is NEGATIVE!
Alternative Target Expectation: 1477 – 1470 – 1459
IMPORTANT NEWS AND ASSETS OF THE DAY
Friday, October 25
- Capacity Utilization Rate and Manufacturing Confidence from Turkey,
- Germany IFO Business Climate Index from Euro Zone,
- Michigan Consumer Sentiment and Baker Hughes Total Drilling Well from USA,
When we take into account the current news flows on Friday, GOLD and USDTRY may draw attention compared to other assets.