Two Expected Scenarios for The Gold's General Trend.

Gold has fallen by 68 points between the resistance line 1803.718 and the support line 1796.59; due to the positive data issued by the Federal Reserve in New York about the New York state manufacturing index, which came higher than the expected result by 16.2 million points, and reinforced the rise in the US dollar's value. Therefore, gold has fallen to break the first support line 1796.59 till it has reached the second support line 1795.332 and it might also reach the third support line 1793.431, on the other hand, there is negative data about the monthly industrial production issued by the US Federal Reserve, which came less than the expected percentage by 0. 1%, which might reduce the value of the US dollar. Therefore, it might allow gold to rise and breach the first resistance line 1800.084 to reach the second resistance line 1800.643 and then the third resistance line 1803.718