Gold 2015-01-05
GOLD 1190
Gold between deflation & Dollar hike
market managed to activate more drop pressure over Gold after FOMC rate projections for rising interest rate as soon as this April
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 obtain yearly close of 2014 below 1200 which holding the drop pressure over gold
short-run
so far market still holding short-run trading zone between 1167 – 1210 , where below 1167 market may sustain drop to test 1150 zone , while above 1210 market may head for farther rebound toward 1225-30 zone
Long-Run
long-run downtrend wave that we advise last 2 years 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 | 1167 | 1202 |
Level 2 | 1150 | 1210 |
Level 3 | 1140 | 1225 |