Gold Trend March 25, 2015

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– Need a monthly close above 1223-1242 to remove bearish trend.

Intermediate Term ~ Neutral– Need close above 115 in GOLD ETF GLD to turn trend up.

Short Term ~ Bullish- Short term cycle low most likely in place with rally to April 3rd underway. 

Need to maintain a close above 1162 to stay in bullish mode.

Initial Resistance 1192-1195 2nd tier 1205-1211

Support 1172-1180 2nd tier 1159-1166

The last update listed resistance at 1189-1192 and the high was 1195.  

Support was listed 1172-1180 and the low was 1185.

Overview

Metals are doing very well this week as lower rate expectation and weaker dollar improved outlook. 

Gold -Gold is trying to break above the key resistance downtrend line but has failed so far. Gold is currently trading at $1190/troy ounce. Immediate support lies at 1172-1180 and 1159-1166 on Wednesday.  resistance at 1192-1185 and 1205-1211.

Silver - Silver is still better performer than gold this week. Mint ratio is at 70.2, up 0.40% today. Silver is currently trading at $16.92/troy ounce. Silver has so far failed to break above the downtrend resistance line as well. Support lies at 15.42,14 & resistance at 17.05 - 17.25. 

Copper - Copper is the best performer this week and broken above key resistance. However party soured by release of weaker inflation data. Copper is trading at $2.79/pound. Immediate support lies at 2.74, 2.59 & resistance at 2.93, 3.07.

In addition to liquidity squeeze for ASSETS WITH HIGH COLATERAL (that is already here if you’re looking at the US Dollar, we have discussed the cycles of war and the escalation into 2020 that is also going to develop.

Today is just another nail of the coming insanity.

Gold Short Term

Gold exceeded the 2015 downtrend channel but remains right at the moving average.  Its been holding the Fib 23% Retrace but the move must come soon.  We’ve been favoring the 1200 area (1205-1211) but we must get above this average here, and like I said, soon.  Should we pullback instead here at the channel line, and the 1180 area (also the 2013 low) doesn’t hold, then look 1172 to offer support on Wednesday.  In summary, Gold has to deliver here short term.  The odds still favor it, but we could visit 1172 also before the push above the channel line.  Options expiration helps to favor it as well.  For the most part, 1205-1211 needs to happen on Wednesday for Options Expiration to have the best profit and that price is 1200.  

 

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YOU ARE NEVER LEFT ALONE

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