Gold 2014-12-18

Dec 18, 12:30 pm

GOLD 1210

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

below 1185 expect 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 1221-25
Level 2 1175 1235
Level 3 1155 1245-50
(Visited 3 times, 1 visits today)