Gold 2014-11-20

Nov 20, 12:31 pm

GOLD 1192

Gold between deflation & Dollar hike

market managed to activate more drop pressure over Gold after FOMC rate projections for rising interest rate next year

while economic data from Europe and Japan showing slow down which may cause more deflation in prices which will affect Gold for more drop also

market managed to fell below support zone of 1180 which indicating the sustain drop for the next year which is compatible with expectation for Fed to raise interest rate

short-run

market managed to spark rebound correction as expected after U.S labor market data 2 weeks ago , where market managed to head to break above 1182 resistance zone

while the break above 1182 may activate short-run rebound correction toward 1230-35 zone , as we advised before

so far market showing trading zone between 1175 – 1205

above 1205 expect 1210 , 1225 and 1235 , while below 1175 market may head to re-test 1155-60 zone

so far indicators still showing ability to sustain advance toward 1235 where this zone will give short-sell opportunity while stop order will be above 1255

Long-Run
long-run downtrend wave that we advise last year still targeting 1100 , where as long as market holding trades below 1255 the target will remain toward 1100

Daily Trend: Up
Weekly Trend: Down

  Support Resistence
Level 1 1170-75 1205
Level 2 1155-60 1210
Level 3 1140 1235
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