Gold 2015-06-22

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GOLD 1194

Another Wide Range

On the short term ; the market has more buying momentum and broke the level of 1188 , if the market hold above that level would mean the buying pressure would accelerate to push the market further to the level of 1215/1225 , in case ( less probable scenario ) slides below the 1175( major support ) then a downward breakout would be the most expected market reaction targeting the level of 1155.

On the longer-term view : The view has become stabilized after a drop was expected further ; the market would range between 1280 and 1130; the penetration of one of this level would determine the new longer term( which is downside move is the most probable scenario to target 1120 and 1050 , and an upside move to 1280 before the expected decline ) direction and continuously we would update the view as the factors are changing .

Daily Trend: UP
Weekly Trend: Range

  Support Resistence
Level 1 1172 1188
Level 2 1162 1197
Level 3 1155 1205


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