Gold 2015-01-12

Jan 12, 12:31 pm

GOLD 1222

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 restore 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
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