Long Term ~ Neutral - Need a monthly close above 1800 to confirm the bull market final phase underway.
Medium Term ~ Neutral – Trend is now neutral after one year in bearish mode. A close above 1420-1480 needed for next significant price point--but a March close above 1322 GETS ONE MORE NOTCH to bullish.
Intermediate Term ~ Neutral– A close above 1355 needed for more bullish action. We are at the end of the short term cycle window. A close below 1262-1272 puts us bearish.
Short Term ~ Bearish – The Next short term cycle window closes Wednesday night. WE SHOULD BE NEAR THE LOW HERE time and price wise but the weakness in gold is very troublesome. A close above 1308 would put us neutral.
Initial Resistance 1293-1303 2nd tier 1312-1317
Initial Support 1272-1282 and 2nd tier 1253-1263
Resistance was listed at 1298-1308 on the last update and the high was 1299.
Support was listed at 1284-1293 and the low was 1283.
Gold Hourly Chart
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Medium Term ~ Neutral – Trend is now neutral after one year in bearish mode. A close above 1420-1480 needed for next significant price point--but a March close above 1322 GETS ONE MORE NOTCH to bullish.
Intermediate Term ~ Neutral– A close above 1355 needed for more bullish action. We are at the end of the short term cycle window. A close below 1262-1272 puts us bearish.
Short Term ~ Bearish – The Next short term cycle window closes Wednesday night. WE SHOULD BE NEAR THE LOW HERE time and price wise but the weakness in gold is very troublesome. A close above 1308 would put us neutral.
Initial Resistance 1293-1303 2nd tier 1312-1317
Initial Support 1272-1282 and 2nd tier 1253-1263
Resistance was listed at 1298-1308 on the last update and the high was 1299.
Support was listed at 1284-1293 and the low was 1283.
Gold Hourly Chart
We touched listed trend Resistance for Monday (1298-1308) but barely
with a 1299 print. But as long as we remain below 1328-1333 it keeps us
in the Feb price range and under March's opening price. So we need a
close above 1337-1343 at a minimum to get things going back on the
upside, but first above 1322. On a daily basis, a close above 1312 would
neutralize the downtrend.
The trend remains down on the short term cycle but a low is due as the
window closes on Wednesday. However it is not a good thing that gold has
been unable to close above the mini blue moving average even once on
this sell off. Perhaps the fact that Monday was the last day of the
quarter kept gold under pressure, but the downtrend is becoming
worrisome. If we lose the gold channel line the next support is
1262-1272 and a close below either will not be good. The 61% retrace is
at 1265. Resistance for Tuesday is the 1293-1303 area.
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This offer is not valid for global clients
It is an exclusive offer for limited period,
The offer valid only for who open account from the link
Why Vantage FX?
Trade with Winners
Australian financial service providers, Vantage FX, have received a multitude of awards over the years including those from IB Times, Deal Makers, The World Finance Foreign Exchange Awards, Smart Investor and many more.
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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
