GOLD, with break down of 1409 correction can extend to 1397

Tuesday forecast, July 16
The pair is trading along an sideways trend between support 1409 and resistance 1418.
An downtrend will start as soon, as the pair drops below support level 1409, which will be followed by moving down to support level 1403 and 1397.
An uptrend will start as soon, as the pair rises above resistance level 1418, which will be followed by moving up to resistance level 1426 and 1433.

Weekly forecast, July 15 - 19
The pair is trading along an uptrend with target on 1433 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1470.
Downtrend can start from resistance level 1433, which will be followed by moving down to support level 1397 - 1382.