Long Term ~ Neutral - need a monthly close above 1800 to confirm the bull market final phase underway
Medium Term ~ Bearish - Need a close above 1402-1460 to neutralize.
Intermediate Term ~ NEUTRAL –Need close above 1343 for bullish.
Short Term ~ Neutral ~ Short term prices are caught inside a wedge trading range.
See short term cycles chart.
Support and Resistance
Initial Resistance 1323-1233 and 2nd tier 1343-1352
Initial Support 1301-1311 and 2nd tier 1282-1290
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 1300-1310 AREA LOOKS TO BE IMPORTANT FOR TUESDAY SUPPORT
Gold Short Term
Initial Support 1301-1311 and 2nd tier 1282-1290
What's Next?
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Medium Term ~ Bearish - Need a close above 1402-1460 to neutralize.
Intermediate Term ~ NEUTRAL –Need close above 1343 for bullish.
Short Term ~ Neutral ~ Short term prices are caught inside a wedge trading range.
See short term cycles chart.
Support and Resistance
Initial Resistance 1323-1233 and 2nd tier 1343-1352
Initial Support 1301-1311 and 2nd tier 1282-1290
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 1300-1310 AREA LOOKS TO BE IMPORTANT FOR TUESDAY SUPPORT
Gold Short Term
Today’s short term chart is the NY trade only. It has a different
purple downtrend line point than the 24 hour chart. On the NY chart, the
downtrend has not been exceeded yet. Since the MAJORITY of all trade is
still in NY it is important. Price is hugging that line since the high
on Thursday. Odds/cycles still favor it will break out to the upside in a
short term rally going into Nov 3rd. With the JOBS REPORT TODAY, gold
could get as low as 1291 or the 1305 area and then resume the challenge
to take out the purple downtrend line and continue higher. BUT UNTIL WE
TAKE OUT THE PURPLE LINE and get above 1322-1325 the downtrend channel
is still active. With the short term cycles in up mode odds favor gold
is just pulling back into the jobs report and should gear up to get
above the downtrend line. If successful gold should run towards
1333-1343 next.
Initial Resistance 1323-1233 and 2nd tier 1343-1352Initial Support 1301-1311 and 2nd tier 1282-1290
What's Next?
The JOBS report is out Tuesday this week. We’re most likely pulling
back toward 1305-1311 or 1292 into the report. With short term cycles in
up mode gold should make its low for the week either today or tomorrow
at the latest and we favor higher into Nov 3rd. We still need to get
above the purple downtrend line and 1322-1325. There’s weekly resistance
of 1333-1343 for this week. Overall that’s a lot of resistance points
close by but we’re in a downtrend and that’s how it usually is. The key
is the short term cycles do favor gold to be fighting towards the
upside.
Bottom line
Gold is more in a trading range at this time but medium term it seems
to be setting up. The wedge is the trading range, and 1322 is the midway
of the wedge and remains important. LOWER support is the 1270-1275 area
and any move there would be a buy opportunity for a short term trade.
IF THE JOBS REPORT IS GOLD BULLISH EXPECT A MOVE TO BEGIN THIS MORNINT
TOWARDS 1330-1340.
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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.
thelordoftruth@gmail.com
The Gold Price & Trend Predictions blog made for gold traders to find good news and to provide the traders with daily price predictions and to learn how to trade the Forex Market for free.Just pure learning! It will be of great fun.You can judge by yourself the quality of information that I will be giving you in my blog.
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In this section you will find quite a long article of what Forex is all about. If you are a beginner, this is a must read. It explains in detail what is required to start trading, what you should do and not, typical traps to avoid as a beginner and a lot of valuable information which you as a beginner must digest and learn prior opening any Forex account with real money.
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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
