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Sunday, April 26, 2015

Gold Trend April 27, 2015



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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 ~ Bearish– Need a monthly close above 1255 to remove bearish trend.
Intermediate Term ~ Neutral– trading range 1170-1225.
Short Term ~ Bearish–   Price remains in trade range 
1175-1225 and waiting for breakout or breakdown.


Initial Resistance 1182-1190 2nd tier 1197-1204
Support 1165-1172 2nd tier 1150-1158


Gold Short term
It looks as though the short term trading range of 1175-1225 is about to give way to the downside.  Monday’s first support looks to be in the 1165-1172 area.  That lower red trend line at 1150 is last support before new bear market lows in gold are favored.  Resistance is 1182-1190 and then 1197-1204.  With the FOMC meeting this week, it usually a week where gold is under pressure until the meeting ends.  Not always, but enough to favor it.
 Gold 8 hour price chart since 2014
What next?
 It looks like the gold short term cycles are going to move lower into the next blue cycle low on May 3rd (plus or minus 72 hours).  
With the FOMC meeting this week, odds are usually that gold is under pressure.  For Monday, look at 1165-1172 as support and then 1158.  Resistance should be 1182-1190 and then 1197.
The short term trend is down and takes a close back above 1200 to neutralize the situation.


M Samer Al Reifae
Official Representative in Romania at HiWayFX
http://lordoftruth.blogspot.com
samer@hiwayfxglobal.com
+40 734 277 757

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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