Gold 2015-04-03

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GOLD 1202 ( Closed )

continuation the downward move

On the short term , the market still ranging between wide levels 1185/1205 – yesterday up move has not been sustained and awaited more confirmation for that move – with down move is again sustained ; Tomorrow data would have big effect on the yellow metal- .

the major short-term levels which the market would keep an eye on it 1178 – further drop below means 1150s would be the target for the market again.and higher 1220 which penetrations of it means toward 1250 and higher.

On the longer-term view : The view has became stabilized after a drop was expected further ; the market would range between 1250 and 1190 ; the penetration of one of this level would determine the new direction and continuously we would update the view as the factors are changing .

Daily Trend: Up
Weekly Trend: Range

  Support Resistence
Level 1 1195 1205
Level 2 1182 12015
Level 3 1178 1222

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