Gold 2015-01-13

Jan 13 2015, 12:30 pm

GOLD 1238

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 hold rebound correction toward 1235 and 1245 as expected , while so far market still holding trades below 1255

as long as market holding trades below 1255 the downtrend pressure will back over short-run where first target will be toward 1220 and 1200

above 1255 market may sustain advance to test 1270-80 zone

Long-Run

long-run downtrend wave that we advise last 2 years still targeting 1100 , where as long as market holding trades below 1270-80 zone the target will remain toward 1100

Daily Trend: Up
Weekly Trend: Down

  Support Resistence
Level 1 1220 1245
Level 2 1200 1255
Level 3 1180 1270-80
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