Follow The XM Bull
Long Term ~ Neutral - need a monthly close above 1800 to confirm the bull market final phase underway
Medium Term ~ Bearish - Need a close above 1321-1370 to neutralize
Intermediate Term ~ Neutral – neutral on weekly close above 1222 - resistance-1272
Short Term ~ BULLISH – The 1255 area is resistance and 1262-1272.
Initial Resistance 1244-1254 2nd tier 1272-1275
Initial Support 1222-1232 and 2nd tier 1208-1214
Last nights update listed resistance at 1244-1254 and the high was 1243.90 – support was listed at 1222-1232 and the low was 1237.
It was a very quiet day where we held in a very tight range.
Let’s see what Friday brings. It’s a turn point day---at least the odds favor it.
Gold Short Term
The first band of support is still the mini blue channel in the 1225-1235 regions for gold on Friday. There’s minor support near 1210-1214 but the next major support is still the 1180-1190 area. Resistance returns to the 1244-1254 area on Friday and then 1262-1267.
Gold’s pullbacks have held the 200 hour green moving average so 1st support is that area along with the price range where the mini blue channel is between 1225-1235. That’s the odds favored 1st pullback zone at the moment. We can still go either way as we enter Friday.
Long Term ~ Neutral - need a monthly close above 1800 to confirm the bull market final phase underway
Medium Term ~ Bearish - Need a close above 1321-1370 to neutralize
Intermediate Term ~ Neutral – neutral on weekly close above 1222 - resistance-1272
Short Term ~ BULLISH – The 1255 area is resistance and 1262-1272.
Initial Resistance 1244-1254 2nd tier 1272-1275
Initial Support 1222-1232 and 2nd tier 1208-1214
Last nights update listed resistance at 1244-1254 and the high was 1243.90 – support was listed at 1222-1232 and the low was 1237.
It was a very quiet day where we held in a very tight range.
Let’s see what Friday brings. It’s a turn point day---at least the odds favor it.
Gold Short Term
The first band of support is still the mini blue channel in the 1225-1235 regions for gold on Friday. There’s minor support near 1210-1214 but the next major support is still the 1180-1190 area. Resistance returns to the 1244-1254 area on Friday and then 1262-1267.
Gold’s pullbacks have held the 200 hour green moving average so 1st support is that area along with the price range where the mini blue channel is between 1225-1235. That’s the odds favored 1st pullback zone at the moment. We can still go either way as we enter Friday.
If we break above 1255-1258 the next target is 1262-1272 range. We
should see support on Thursday in the 1225-1235 area. The medium term
trend of gold still has a significant chance of providing further upside
as we near the end of the month and in February. Up until the bear
market correction started the Chinese New Year was providing a good
launch pad for gold at the end of January. That will be the next factor
to watch and see if the bull trend has returned for gold. From a
seasonal standpoint the first half of January is up and the 2nd half is
usually down. So if we get a pullback into month’s end it doesn’t mean
the trend is still down on a medium term basis.
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1. Open your account HERE
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If you do not have a Paypal or Moneybookers account,
please click on one of the links below to open your free account today.
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You will be paid $10 per standard lot of Gold traded and
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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
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
