Gold 2014-12-26
GOLD 1196
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
while the break above 1182 this month managed to activate short-run rebound correction toward 1230-35 zone , 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 hit 1171 low this week before rebound today toward resistance 1195-97 zone , while as long as the daily close sustain below 1202 the short-run downtrend movement will sustain toward 1155-60 zone
any daily close above 1202 may activate farther rebound correction toward 1218-20 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 | 1180-85 | 1202 |
Level 2 | 1170 | 1218-20 |
Level 3 | 1155-60 | 1235 |