Medium Term ~ Bearish - Need a close above 1461-1529 to neutralize.
Intermediate Term ~ bearish –we closed below 1320-1325 in NY but not access. Need close above 1365 for bullish.
Short Term ~ Bearish– a short term low is due this week.
Support and Resistance
Initial Resistance 1322-1332 and 2nd tier 1344-1354
Initial Support 1285-1290 and 2nd tier 1268-1275
CME GROUP NEWS
The gold market coiled tightly today ahead of the Fed and in the wake of US data that was difficult to draw conclusions from. With the latest talk of a token tapering effort from the Fed some of that type of outcome might already be factored into prices. However, in the event that the Fed holds off on any tapering that might provide gold and silver with some measure of technical short covering. In retrospect, seeing rather muted inflation readings from the US might have served to undermine gold at the news offers some assistance to the no taper crowd. Other traders suggest that December gold has seen a trade above $1,400 and a trade below $1,200 over the last 4 months and that the decision Wednesday afternoon is likely to send gold toward one extreme or the other.
It comes down to the FOMC meeting today. The control boyz will do what they want.
Gold Pivot points
R1 and R2 represent 1st and 2nd standard deviations from the pivots and the same for S1 and S2.
Gold Short term hourly chart
The showdown should be today in the afternoon with the Fomc results.
Resistance on Wednesday will be the 1322-1322 area and 1346-1355. The two major supports are the purple channel lines in the 1290 and 1270 area.
At this point we’re just waiting to get past the fomc meeting.
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You will be paid $10 per standard lot of Gold traded and
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thelordoftruth@gmail.com
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
