Gold 2015-01-05

Posted on

GOLD 1190

Gold between deflation & 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 next year

market managed to obtain yearly close of 2014 below 1200 which holding the drop pressure over gold

short-run

so far market still holding short-run trading zone between 1167 – 1210 , where below 1167 market may sustain drop to test 1150 zone , while above 1210 market may head for farther rebound toward 1225-30 zone

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 1167 1202
Level 2 1150 1210
Level 3 1140 1225
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