Gold Trend April 8, 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 1223-1242 to remove bearish trend.
Intermediate Term ~ Neutral– trading range.
Short Term ~ Bullish above 1200 - Short term cycle turn due April 4th 

(plus or minus 72 hours)

Initial Resistance 1212-1222 2nd tier 1239-1245

Support 1195-1205 2nd tier 1172-1182

Overview
Once again we have another FOMC event as the MINUTES from the last meeting gets released again tomorrow.

If you’re feeling that all we have now is FOMC meetings, FOMC minutes, FED Speeches every day of the week you are right. It is becoming nonstop.

How about the NFP report……………or OPTIONS Expiration and the Nearest Futures contract roll over notice?
Why does the Jobs report cause so much movement in gold?

It is quite apparent that the control boyz are using these reports and statements as the QUE for their ALGO partners and banksters to make the moves required to TURN OVER POSITIONS and get set up for the next wash and rinse.

Thus what it comes down to is gold could be pulling back to support until the FOMC comes out. Odds favor trade in the 1198-1208 area on the downside and 1213-1217 area on the upside. That means there could be a lot of pricing near 1212 at times. This range should remain until the FOMC minutes.

ANY WORDING ON HIGHER RATES THAT ARE MORE HAWKISH could give gold a pounding. Remember, this is most likely how they are controlling the market…..with MIXED SIGNALS causing markets to react violently and erratic. In the end, they are trying to block every leak in the dam and fissures are cracking all over the place.

The bottom line is a move above 1229 will favor 1245-1272 and higher into next week. A close below 1192 would allow for another test of 1172-1182. IF we lose 1162 then odds will be the downside is in play until next week. It’s a wide range I know but that is the number the markets are giving us. If we get back into the UPTREND channel, odds for sharp move to next resistance will be in play. Anything less and the potential for more downside can’t be ruled out just yet.

Gold Short Term

Gold has reached key intermediate term resistance 4 times. The 1222-1228 area is resistance. The key is whether gold gets above 1229 as it would favor a quick move to 1244. On the downside 1st support should be the 1195-1205 area. That 1205 price point and down to that small dotted trend line in the 1198-1202 area could very well be the Wednesday low. If we’ve peaked, then any move below 1192 has the potential to fall to 1172-1182---so beware below 1292.

Support on Wednesday 1195-1205 and then 1172-1182. 
Resistance is 1219-1229 and then 1239-1244.

In summary, seasonal factors, price pattern, and COT positions are in favor of gold catching a bid in April/May. A close above 1229 will favor higher towards 1244 next. Until that close, it’s possible we get another short term drop into mid month first before the seasonal moves higher.

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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