Wednesday, October 29, 2014

Gold Trend Oct 30, 2014


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 ~ Bearish– Gold needs to close above 1294 on a weekly and monthly basis for bullish outlook.
Intermediate Term ~ Neutral-resistance met at 1256 target (1252-1262) Odds favor a pullback is in play. GLD is the only holdout where it is above the averages.
Short Term ~ Bearish-But odds favor short term peaks this week with pullback into 1st week of November. Pullback may have already begun. Can’t rule one final spring higher but odds are we turn down from there or already have into Nov 7th.

Initial Resistance 1216-1224 2nd tier 1229-1236
Initial Support 1202-1207 2nd tier 1182-1192


The last update listed 1235-1245 as resistance and the high was 1231. 
Support was 1218-1226 and 2nd tier at 1202-1211 the low was 1212.


As we said---the FOMC should be the event for the week. Gold did nothing until the meeting adjourned today and minutes were released. QE ended and gold tanked. However, we think it will be short lived on the DOWNSIDE. IF QE1, 2 and 3 were bearish for gold, how can NO QE be bearish? Or----will it even be WORSE?  
Is gold ever going to stop going down?
YES.
We need to see INTEREST RATES START TO RISE again and finally take out the green channel line on the weekly chart we update on the weekly report. Yes, I know it sounds completely opposite of what you’ve been told. But you have to keep in mind that those who are telling you that are the ones who have been bullish all thru this big three year correction. Interest rates ROSE FROM 1968 to 1981.
Do I need to say anything more?
To uncloud any mystery, the truth of the matter is that GOLD GOES UP HARD when interest rates drop sharply into Negative rates as it did from 2001 to 2011. That was the beginning of a new cycle. Now gold is taking its half time break and Once interest rates begin the next leg up higher, at some point, (not at first) gold will re-launch.
But won’t the US dollar go up then too? YES.
The reason gold will still go up is once rates resume the long term uptrend, the global debt crisis will come FULT TILT and the confidence in the entire system will be lost as nations begin to default. As it does, the cascade will be global. “When the wall’s come tumbling down” was a John Mellencamp song, but the lyric is from the bible describing the walls of Jericho.
And while the walls have not yet come tumbling down, we can say with certainty that another biblical phrase is apropos…………..”the handwriting is on the wall.”
The bottom line is gold acts differently with interest rates DEPENDING on where we are on the LONGER TERM CYCLES.  That is where the confusion exists.  They will tank gold with its final wave down if interest rates blow higher, but once that is over with, gold will reverse and will eventually rise dramatically.

Gold chart
We discussed on the intraday update support of 1216-1218 or 1202-1206 and the low since then has been 1207.50, just deep enough to reach the dotted red line support. Look for a bounce back resistance at 1215-1222. Further resistance is now 1229-1237. On the support side that 1202-1206 area is certainly important as it’s really the last of any uptrend lines that have been created since the lows. Note how as soon as the middle red lines and the moving averages gave way, the move was quick to the next set of lines where the downtrend and uptrend lines intersect and if we should fail here, there is a small support point at the 1192-1195. Lastly, if 1180 fails then look for first support at 1156-1172.

For Thursday, the market will likely use 1202-1207 (or 1192-1195) as support and 1215-1222 as resistance.
Gold 4 hour chart

M Samer Al Reifae
Master Introducing Broker in Romania at HiWayFX
 samer@hiwayfx.com
+40 734 277 757
http://4xplanet.com

Join The World Rally Forex
Open a DEMO Account --> http://tinyurl.com/kwpfdkd
Trade For Free & Win Real Money
A total of 4,000$ every month is given to the winners!
Registrations for the World Rally Forex are now opened for the contest of Nov
Register now and reserve your position to win real money on your Standard NDD Account now.
No deposit needed
http://tinyurl.com/kwpfdkd

Our monthly Forex competition will enable you to sharpen your trading skills and win real money with no risks involved.
The competition is reset at the end of each calendar month.

See Why HiWayFX?
  http://www.hiwayfx.com//register?referralLinkId=31
JOIN US & GET YOUR THRILLING 30% BONUS REWARDS
UP TO 4.000$
--> http://tinyurl.com/kwpfdkd
"All new clients signed up through this link will be entitled to Free FXTwit$ Premium Real Time Signals"
This signals are delivered thru whatsappp +6018.341.2014
I was trading with a lot of brokers, and recently moved to HiWayFx.
Amazing service
Amazing bonus
Unbeatable spreads, as low as 0 pips
No Dealing Desk (NDD) execution model. 
No re-quotes from dealers, no dealer intervention & no execution delays
Trading during news allowed
Scalping allowed
Personalized technical and customer service support
Start trading with a minimum deposit of only $20
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.
I trade with this broker within few weeks.
I like everything, so far.
I feel comfort and confidence with HiWayFx, this company always ready to help you in different situation (closing of the order, bonus conditions or just fast withdrawal). I don't have any problems with trading, even on news.

YOU ARE NEVER LEFT ALONE
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!
 
YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS 
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. 
 King Regards