Gold 2014-12-30

Dec 30, 12:34 pm

GOLD 1187

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 last week before rebound 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 1202
Level 2 1170 1218-20
Level 3 1155-60 1235
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