Monday, February 10, 2014

Gold Trend Feb 10/2014

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 1293-1333 to neutralize
Intermediate Term ~ Bullish – 1272 DID NOT GET TAKEN OUT ON THE CLOSE yet and thus intermediate term did not go full bullish.
Short Term ~ BULLISH –   we need a close above 1272 to keep uptrend going. 
We must hold 1222 on a closing basis otherwise the trend goes to neutral/bearish.

Initial Resistance 1262-1272 2nd tier 1284-1294
Initial Support 1243-1253 and 2nd tier 1222-1232

Gold Short Term
Support is 1238-1248 and 1222-1228 and resistance 1267-1272 and the upper channel line in the 1290’s.
As long as we can hold the channel the upside still has potential to reach the upper channel line again. Support on a CLOSING basis is first at 1248-1255 this week and at 12628-1238.  The hourly chart lists resistance at 1292-1302.  That range will move higher during the week as the upper trend line does.  You can see how many spikes have hit near 1270-1275 and that is really the key to the coming week --- is we need to close above there in order to get to the targets laid out earlier in the update.
gold hourly price chart
What Next?
China returns and Yellen testimony is on Tuesday.  That means Monday favors higher.  And yes, we got to get above this 1272.
Bottom Line
The bottom line is someone is not allowing gold to close above 1275-1280.  If gold were get above it it favors 1288-1298 on Monday with ideal 1292-1294

Open Real Account
Go to the XM Contest Arena
Register a Nickname and get $20 Free

All Profits Withdrawable
Free $20 Credit Added Automatically
Non Stop Contests to Join
    Open a Real Account (you can use your existing account if you already have one)
    Login to the XM Members Area
    Register your unique Nickname and password
    Enter the Contest Arena
Keep Calm & Follow The Bull

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.
Welcome to my blog where you can learn how to trade the Forex Market for free.The material is all created by myself and not copied from anywhere. There is a lot yet to come since there is a lot that you need to learn, and there is a lot that I need to share with you! So please just be patient – it will be worth it.You can judge by yourself the quality of information that I will be giving you . So just go now and start learning!
Below is a quick guide of how this website is structured, so you can find what you are looking for fast. Remember that I update the pages every day so either check back often.
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.
In this section you will find your road map on how to become a real successful trader couple of months as from today.
In this section you will know the  3 major areas – Technical Analysis, Fundamental Analysis and Trading Physcology.
In this section you will find a gold mine of information about the technicalities of Forex. We will start from the very basics covering all the Forex jargon words which you will be hearing every day and we will be taking you up to the level required to finally learn to trade like a pro – technical analysis, also found in this section.
In this section you will see the tips that will help you stay away from crap forex products, which unfortunately the Forex market is invaded with.
This section has a very detailed article on how to avoid being scammed in this ruthless world of Forex. I will explain in detail six tips that you need to look for prior purchasing any products. Even though most of the time you may claim your money back,the time wasted is never returned. You should have used that time to learn how to trade! Read it!
 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. 
 King Regards