Gold Trend 26/June/2013

Long Term-Neutral – Need a monthly close above 1490-1526 to regain Bullish status.
Medium Term=Bearish Need a close above 1650-1675 to neutralize.
Intermediate Term=Bearish –need a close above 1448 for bullish
Short Term=Bearish- A CLOSE ABOVE 1322 IS NEEDED TO NEUTRALIZE THE DOWNTREND.
Support and Resistance
Initial Resistance 1275-1281 and 2nd tier 1288-1294
Initial Support 1240-1245 and 2nd tier 1216-1226

Gold Hourly Chart
the short term trends are still down. The maxi contract doesn’t have another channel line support until the 1220-1225 area. I’ve included the MINI GOLD chart (see below this one) as it has support at the 1240-1245 area.

What Next?
Wednesday looks ugly. 1240-1245 or 1220-1225 is the two support points. With the last day of the short term cycle window, and mid-week Wednesday, odds favor we could see the low for the week. The wild card is the liquidity crisis. As long as it’s in play, we can go lower.
Bottom Line
THE BOTTOM LINE IS THIS IS THE ONE THING WE’VE BEEN WORRIED ABOUT AND DISCUSSED SO MANY TIMES…..THE LIQUIDITY CRISIS AND WE NEED TO CONTINUE WORRYING ABOUT IT.

 

YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS 
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED. 

 Do your own due diligence. 

No one knows tomorrow's price or circumstance. 
 I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader. 
I do not accept responsibility for being incorrect in my speculations on market trend. 

 King Regards