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– trading range.
Short Term ~ Neutral - Short term cycle turn due April 4th (plus or minus 72 hours)
Initial Resistance 1206-1211 2nd tier 1217-1225
Support 1182-1192 2nd tier 1166-1172
The last update listed resistance at 1196-1206 and the high was 1207.
Support was listed 1178-1182 and the low was 1182.Medium Term ~ Bearish– Need a monthly close above 1223-1242 to remove bearish trend.
Intermediate Term ~ Neutral– trading range.
Short Term ~ Neutral - Short term cycle turn due April 4th (plus or minus 72 hours)
Initial Resistance 1206-1211 2nd tier 1217-1225
Support 1182-1192 2nd tier 1166-1172
The last update listed resistance at 1196-1206 and the high was 1207.
The acceleration into a global economic collapse is nearing an inflection point. The inflation markets (Real Estate, Energy, and Precious Metal) all peaked quite a while back. Generally speaking, the remaining commodities have now crashed and interest rates are at 50 and 300 year lows (Depending which nation you measure). The “shot” heard round the world will eventually be when the global bond markets explode.
How can you tell when you are in a deflationary crisis? The answer is when 10 year Bond Yields are below yearly GDP.
When an economic crisis is coming, there are usually certain indicators that appear in advance. For example, commodity prices usually start to plunge before a recession begins. And as you can see from the Bloomberg Commodity Index which you can find right here, this has already been happening. In addition, the U.S. dollar went on a great run just before the financial collapse of 2008. This is something that has also been happening over the past few months. Some people would have you believe that nobody can anticipate the next great economic downturn and that to try to do so is just an exercise in “guesswork”. But that is not the case at all. We can look back over history and see patterns that keep repeating. And a lot of the exact same patterns that happened just before previous stock market crashes are happening again right now.
For example, let’s talk about the price of oil. There are only two times in history when the price of oil has fallen by more than 50 dollars in a six month time period. One was just before the financial crisis in 2008, and the other has just happened.
On the other side of the earth, a US dollar replacement vehicle is being assembled.
China To Take The Reins In Funding Regional Infrastructure Projects
Frank Holmes
April 1, 2015
This Tuesday marked the last day that countries could submit their applications to become founding members of the new China-led Asian Infrastructure Investment Bank (AIIB). As of this writing, a little over 40 nations have either already been approved or have applied for membership, including strong U.S. allies such as Britain, Germany and Australia.
Notable absentees are the U.S. and Japan.
Conceived to serve as an alternative to Western-dominated sources of credit such as the World Bank, International Monetary Fund (IMF) and Asian Development Bank, the AIIB will aim to invest in regional infrastructure projects ranging from energy to transportation to telecommunications.
The new development bank, which is expected to launch later this year, will have $100 billion in capital to begin with—a massive mountain of money, to be sure, but it falls far short of the estimated trillions that will be necessary to fund Asia’s astronomical infrastructure demand.
China’s creation of its own global bank highlights the country’s desire to wield more control over funding such projects. It currently commands only 5.17 percent of the vote in the World Bank and 3.81 percent in the IMF.
And so the currency wars continue to heat up. China’s move demonstrates its ongoing efforts to establish the Yuan as a global reserve currency on par with the U.S. dollar. It’s no secret that the country wants the Yuan to become part of the IMF’s Special Drawing Right (SDR), a composite currency unit that now consists of the dollar, Japanese yen, British pound sterling and euro. The founding of the AIIB might very well bring the country closer to realizing these goals.
Overview
Markets are closed on Good Friday and it is unemployment week. This report has been the biggest gold price mover of the month on many occasions. We have to be ready for anything as they probably want to clear the stops on both sides with their patented move 10 dollar either way (maybe more) on the news first to get the riff-raff out of the way
To make this even dicer, markets are closed or only open for very limited hours until a few hours after the unemployment report as this is Good Friday holiday
Along with this you can be assured volumes in all markets will be relatively low and fall of even further by Thursday... and by Friday, there will be no one around.
always interesting when they do this on good Friday... and not move the report up to Thursday, or back to the following week.
From here it comes down to the NFP report and what the control boyz do with price. It is often the biggest mover of the month for Gold.
Gold should quiet down on Thursday and won’t return to normal until early next week due to the Easter holiday.
Gold Short Term
We discussed last night that 1178-1182 was support and if it didn’t hold to look for 1173. The low was 1178 this week and for Wednesday 1182. The Fib line at 1181 held on the close and price moved to this week’s first resistance at 1201-1207. Price remained below 1192 until New York, and in a couple of hours, price had move above 1200. We hit resistance at 1207. Resistance Thursday is 1205-1211 and then 1222-1225. Support is the 1189-1192 region and 1178-1183.
One note of interest is the price pattern remains bullish since the rally started from the last FOMC meeting.
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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
