Gold 2014-12-24

Dec 24, 12:31 pm

GOLD 1177

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 this month 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

short-run

market managed to fell below 1185 where market now facing support zone at 1155-60 , where market may provide good zone to re-long market there

below 1155 market will add more drop pressure to head for testing 1143 and 1132

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 1155-60 1185
Level 2 1143 1197
Level 3 1132 1204
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