Gold 2014-12-01

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GOLD 1172

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 Japan 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 rise interest rate


market managed to spark rebound correction as expected after U.S labor market data last month , where market managed to head to break above 1182 resistance zone

while the break above 1182 may activate short-run rebound correction toward 1230-35 zone , as we advised before

market faced sell-off over Gold on speculation that SNB wont add more Gold in assets , where market fell toward 1143 zone today , while this action from SNB may hold short-run in trading zone between 1140 – 1230
as long as market holding trades above 1131 market will sustain ability for rebound correction toward 1230

while this month U.S employment data may push Gold toward this rebound incase if data came below expectation

long-run downtrend wave that we advise last year 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 1143 1185
Level 2 1131 1200
Level 3 1115 1208


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