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 ~ Neutral – the short term cycle resolved to the upside and only a close below 1272-1282 would favor it to be a down one.
Initial Resistance 1312-1322 2nd tier 1328-1323
Initial Support 1286-1296 and 2nd tier 1272-1280
Resistance was listed at 1307-1313 on the last update and the high was 1315.
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 ~ Neutral – the short term cycle resolved to the upside and only a close below 1272-1282 would favor it to be a down one.
Initial Resistance 1312-1322 2nd tier 1328-1323
Initial Support 1286-1296 and 2nd tier 1272-1280
Resistance was listed at 1307-1313 on the last update and the high was 1315.
Support was listed at 1286-1296 and the low was 1297.
The FED FOMC minutes come out on Wednesday afternoon.
The FED FOMC minutes come out on Wednesday afternoon.
Resistance this week is 1315-1322 and 1333-1343. On monthly resistance
watch the 1328-1333 area and use as a pivot. Below 1328 and we are in
Feb price territory. Above 1333, we are in March Territory. The short
term trend is neutral, and does still favor higher this week but A CLOSE
BELOW 1272 and forget it. Support is the gold trend line but if broken
then 1266-1272.
THE KEY for Tuesday is whether gold can get above 1305-1310. If so then that blue uptrend line and the gold Fibonacci retrace line point to 1316-1322 as still the odds favored resistance point. On the downside, support is the 1292-1294 area where the green 200 hour moving average resides. WE NEED TO SEE THE MINI BLUE MOVING AVERAGE (89 HOUR) GET ABOVE THE GREEN 200 HOUR FOR ADDITIONAL UPSIDE POTENTIAL. In summary, the short term trend is still intact, but let’s be careful because the pattern has more choppy and overlapping waves since the low than I like to see.
THE KEY for Tuesday is whether gold can get above 1305-1310. If so then that blue uptrend line and the gold Fibonacci retrace line point to 1316-1322 as still the odds favored resistance point. On the downside, support is the 1292-1294 area where the green 200 hour moving average resides. WE NEED TO SEE THE MINI BLUE MOVING AVERAGE (89 HOUR) GET ABOVE THE GREEN 200 HOUR FOR ADDITIONAL UPSIDE POTENTIAL. In summary, the short term trend is still intact, but let’s be careful because the pattern has more choppy and overlapping waves since the low than I like to see.
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It is an exclusive offer for limited period,
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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
