Gold 2014-11-14

0 1

GOLD 1153

Gold between deflation & Dollar hike

market managed to activate more drop pressure over Gold after FOMC rate projections for rising interest rate next year

while economic data from Europe and China showing slow down which may cause more deflation in prices which will affect Gold for more drop also

market managed to fell below support zone of 1180 which indicating the sustain drop for the next year which is compatible with expectation for Fed to raise interest rate


market managed to spark rebound correction as expected after U.S labor market data last friday , where market managed to head to test 1170-80 resistance zone

any break above 1182 may activate short-run rebound correction toward 1230-35 zone , while as long as market holding trades below 1180 the downtrend movement will sustain

long-run downtrend wave that we advise last year still targeting 1100

Daily Trend: Down
Weekly Trend: Down

  Support Resistence
Level 1 1145 1180-85
Level 2 1137 1196
Level 3 1132 1208
Short term strategy: keep trades we sold inside 1170-80 zone , stop loss above 1285 , target 1140


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