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Wednesday, November 12, 2014

Gold Trend Nov 13, 2014


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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 ~ BearishGold needs to close above 1272 on a weekly and monthly basis to neutralize the downtrend
Intermediate Term ~ Neutral/Bearish-Short term cycles favor higher into Nov 22nd
Short Term ~ Neutral- Short term cycles favor higher into Nov 22nd but the overall trend is still only neutral

Initial Resistance 1166-1176 2nd tier 1185-1190
Initial Support 1144-1154 2nd tier 1130-1133

The last update listed resistance at 1168-1178 and the high was 1170. 
Support was listed at 1144-1154 and the low was 1157.
There’s nothing to add from the last few days. Now gold has to perform.

Short Term Gold

If we can get above 1175, then the channel lines in the 1185-1190 area will
become the target for this week and resistance. Anything less leaves downside potential.
Support is the lower channel line near 1135 and the low at 1148.
 Resistance is 1165-1172 on Thursday.
gold hourly price chart 

What Next?
The short term cycle due Nov 6th has bottomed and odds favor higher
into the 22th (plus or minus 72 hours). We got to 1172 ( a weekly reversal price)
on Tuesday and 1170 on Wednesday.
We still need a daily close above 1275 would be the next signal
we are moving higher into the 22nd.

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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. 
 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