Gold 12th December 2014

Dec 12 2014, 12:31 pm
Gold 12th December 2014
Gold 12th December 2014


GOLD 1222

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 next year


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 managed this week and finally to continue our projection path toward 1230-35 , which provided good zone to short-sell market , while as long as market holding trades below 1255 the downtrend pressure will back over the gold with first target toward 1195-1200 zone

above 1255 market may sustain advance toward 1280-85 zone


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 1215 1235-40
Level 2 1200 1255
Level 3 1195 1280
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