Gold 2015-01-06

Jan 06, 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 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 this year year

market managed to obtain yearly close of 2014 below 1200 which holding the drop pressure over gold

short-run

market managed to hit above 1210 zone while as we see over the chart market faced the downtrend swing around 1215 which consider as resistance zone now

above 1215 market will show ability for farther advance toward 1225 and 1235 , while as long as market holding trades below 1215 the risk for drop correction will sustain

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 1186 1215
Level 2 1167 1225
Level 3 1150 1235
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