Gold 2014-12-08

Dec 08, 12:32 pm

GOLD 1195

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

short-run

market managed to spark rebound correction as expected after U.S labor market data last month , 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

market now facing support at 1175 , where as long as market holding trades above 1175 expect more advance toward 1230-35 zone , below 1175 market may back to re-test 1150-55 zone

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 1185 1221
Level 2 1175 1230-35
Level 3 1150-55 1240-45
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