Long Term ~ Neutral - need a monthly close above 1800 to confirm the bull market final phase underway
Medium Term ~ Bearish - Need a close above 1387-1440 to neutralize.
Intermediate Term ~ NEUTRAL –Need close above 1343 for bullish.
Short Term ~ Bullish ~
Support and Resistance
Initial Resistance 1343-1353 and 2nd tier 1373-1380
Initial Support 1322-1331 and 2nd tier 1310-1315
Last update listed resistance at 1343-1353 and the high was 1342. Support was listed at 1322-1331 and the low was 1329.
Medium Term ~ Bearish - Need a close above 1387-1440 to neutralize.
Intermediate Term ~ NEUTRAL –Need close above 1343 for bullish.
Short Term ~ Bullish ~
Support and Resistance
Initial Resistance 1343-1353 and 2nd tier 1373-1380
Initial Support 1322-1331 and 2nd tier 1310-1315
Last update listed resistance at 1343-1353 and the high was 1342. Support was listed at 1322-1331 and the low was 1329.
CME GROUP NEWS
With a slight corrective setback December gold Wednesday displayed some short term overbought symptoms and perhaps the market was simply fundamentally a little ahead of itself off the unending easing expectations. With the Dollar also technically oversold into the lows earlier this week some of the weakness in gold on Wednesday might have been the result of a bounce in the Greenback. In retrospect, the biggest undermine of gold prices over the last 24 hours was probably rekindled fears of credit tightening by China and tightening by China and suspicion toward the US economy is probably a story line that takes the support out from under gold prices, especially after the recent low to high bounce or $94 an ounce.
Gold Pivot points
R1 and R2 represent 1st and 2nd standard deviations from the pivots for resistance and the S1 and S2 represent 1st and 2nd standard deviations from the pivots for support.
With a slight corrective setback December gold Wednesday displayed some short term overbought symptoms and perhaps the market was simply fundamentally a little ahead of itself off the unending easing expectations. With the Dollar also technically oversold into the lows earlier this week some of the weakness in gold on Wednesday might have been the result of a bounce in the Greenback. In retrospect, the biggest undermine of gold prices over the last 24 hours was probably rekindled fears of credit tightening by China and tightening by China and suspicion toward the US economy is probably a story line that takes the support out from under gold prices, especially after the recent low to high bounce or $94 an ounce.
Gold Pivot points
R1 and R2 represent 1st and 2nd standard deviations from the pivots for resistance and the S1 and S2 represent 1st and 2nd standard deviations from the pivots for support.
The short term trend is up and odds favor higher into next week. We consolidated on Wednesday and today favors a test of resistance and the 50 day average near 1342-1345. There’s additional resistance at 1352-1356 if we do get above the first zone.
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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.
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
