GC and ES Futures Forecast for 9-26-16
market predictions for Gold and SP for this up and coming week.
Gold (GC) is in a wedge pattern right now. Look for the breakout of it. Gold has been hitting the weekly supply zone @ 1354 and that level has held nicely. New weekly demand has formed from 1305.5-1325.9. Look for that level to hold as the trend is currently up. If it does not then as soon as it break 1305.5 we could find ourselves back into the 1250 area for a retest. For this week however I’m looking for the wedge to continue on and for up to find support above 1305. Time and price action will tell so you can use this to your advantage.
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On the SP500. Looking at the futures contract ES. In previous weeks, we have seen ES retest and bounce off of nice weekly demand at the 2100 level. Now we see the retest of the prior highs. Look for price to retest the daily demand at the 2100-2120 demand zone. ES maybe turn into somewhat of a range as price so far has failed to break the supply zone at 2170. With so much news this week, we will just have to see how the levels are respected.
APA Zones Futures Forecast:
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