Gold 2015-01-07
GOLD 1210
Gold between Haven & 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 where as long as market holding trades above 1198 the uptrend correction may sustain toward 1225 and 1235
any daily close below 1198 will restor the downtrend pressure over market
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 | 1198 | 1215 |
Level 2 | 1186 | 1225 |
Level 3 | 1167 | 1235 |