Gold 2014-12-15

GOLD 1212
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 next year
short-run
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 managed this week and finally to continue our projection path toward 1230-35 , which provided good zone to short-sell market , while as long as market holding trades below 1255 the downtrend pressure will back over the gold with first target toward 1195-1200 zone
above 1255 market may sustain advance toward 1280-85 zone
Long-Run
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	1215	1235-40
Level 2	1200	1255
Level 3	1195	1280