Gold 2014-12-16
GOLD 1200
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 , 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 , already done, as we advised before
market managed last 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 , already done
above 1255 market may sustain advance toward 1280-85 zone
short-run
market over the short-run showing ability for trading zone between 1185 – 1225 zone , be careful that market still holding ability for another rebound to test 1240-45 zone , its just a chance not a must
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 | 1221-25 |
Level 2 | 1175 | 1235 |
Level 3 | 1155 | 1245-50 |