Long Term ~ Neutral ~ need a monthly close above 1800 to confirm the bull market final phase underway
Medium Term ~ Bearish - Need a close above 1461-1529 to neutralize.
Intermediate Term ~ Bullish– Need to hold above 1320-1325 weekly. A close below 1272 would return to neutral mode. Support 1350. Above 1350 bullish.
Short Term ~ bullish– support 1350-1360 and 1322-1333
Support and Resistance
Initial Resistance 1395-1405 and 2nd tier 1422-1432
Initial Support 1365-1375 and 2nd tier 1342-1354
CME GROUP NEWS
The gold market waffled around both sides of unchanged today and managed that action in the face of a today a risk on environment. The bull camp might have been disappointed by the lack of upside in gold in the face of supportive currency market action and talk that the US was still considering a unilateral attack on Syria. In the end, seeing only modest declines in gold prices in the wake of a serious reduction of supply side threats from South Africa was a psychological victory for the bull camp in gold today. Perhaps gold is drafting ongoing support from favorable Chinese economic data or perhaps the gold bulls are simply relieved that the US might not be quick to pull back on QE.
Gold Pivot points
Gold Hourly Chart
Gold was unable to get past 1392 on Monday and was unable to reach upside resistance at 1399-1407. Support still remains around the 1369-1375 area and 1350-1355 with Monthly support at 1322. We were unable to hold 1382 so the potential to move lower remains in play. With the US president giving a nationwide TV speech on Syria there was though that gold might hold and move higher on Tuesday but we’ll have to see as nothing is cast in stone at the moment.
Thus the most important area for the coming week is the 1407-1412 area. If price closes above the upper dotted trend line, then the potential to rally further will be in play.
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1. Open your account HERE
2. Send me your MT4 trading account number and email address
3. Send me your Paypal or Moneybookers account number
If you do not have a Paypal or Moneybookers account,
please click on one of the links below to open your free account today.
Moneybookers
Paypal
You will be paid $10 per standard lot of Gold traded and
all payments will be made by the 25th of each month.
In order for your payment to be processed each month, please send me an email requesting payment and stating the amount of lots you have traded and your MT4 account number between the 20th and 24th of the month.
thelordoftruth@gmail.com
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YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
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.
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
