Long Term ~ Bearish -Need a monthly close above 1800 to
confirm the bull market final phase underway.
Need a monthly close above
1560 to neutralize the trend.
Medium Term ~ Neutral – Gold needs to close above 1294 on a weekly and monthly basis for bullish outlook.
Intermediate Term ~ Neutral/Bullish -Still need close above 1243. Next resistance 1265-1272.
Short Term ~ Bullish - Still need a close above 1243. Next resistance 1256 / 1260.
Medium Term ~ Neutral – Gold needs to close above 1294 on a weekly and monthly basis for bullish outlook.
Intermediate Term ~ Neutral/Bullish -Still need close above 1243. Next resistance 1265-1272.
Short Term ~ Bullish - Still need a close above 1243. Next resistance 1256 / 1260.
Initial Resistance 1238-1248 2nd tier 1265-1272
Initial Support 1218-1228 2nd tier 1207-1211
Hourly Gold Chart
Gold has yet to conquer the 1243-1248 area and as we move to Monday we still don’t have a close above 1243. Support is the 1218-1225 area where the channel lines are. Resistance remains 1243-1248. The short term trend remains up.
What Next?
Odds are highest for a peak this coming week between Oct 23rd and the 25th of the month and a pullback into the 1st week of November.
The 1252-1262 area or 1272-1284 is this the most likely area we get
into resistance. But in order to reach those targets, we must CLOSE
ABOVE 1243/1245. The weekly close above 1222 does give potential for
1272-1284 to be tested in the coming weeks. On a monthly level the
1290-1302 area should be considered very strong resistance for now and
also the key 1322 level.
Odds are highest for a peak this coming week between Oct 23rd and the 25th of the month and a pullback into the 1st week of November.
M Samer Al Reifae
Master Introducing Broker in Romania at HiWayFX
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Master Introducing Broker in Romania at HiWayFX
+40 734 277 757
https://www.facebook.com/LORDOFTRUTH
https://www.facebook.com/FollowTheRaw
https://www.facebook.com/groups/vantagefx/
https://www.facebook.com/groups/833567363342950/
https://www.facebook.com/groups/502852726444007/
http://lordoftruth.blogspot.com/
https://plus.google.com/+msameralreifae
https://twitter.com/thelordoftruth
http://4xplanet.com/
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It is very important for to trade with fast order’s execution, I had opened Standard NDD Account And I was pleasantly surprised by the quality of order’s execution.
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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.
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