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 ~Bullish – Price remains in trade range 1175-1225
and waiting for breakout or breakdown.
Initial Resistance 1220-1225 2nd tier 1231-1235
Support 1200-1197 2nd tier 1188-1194
Gold Short Term
Price broke out above 1205 yesterday and has rallied to weekly resistance 1219-1225. Once again the breakout higher was all accomplished in a couple of hours and the 40 dollar move to weekly resistance all complete in two days.
This is the same type of activity that has been happening in gold that happens in other markets and the sad fact of the situation is that the forces that now control the markets are run by computers and software programs headed up by the big banks and other well connected entities.
Look for 1222-1226 to provide resistance today and weekly resistance is now 1235-1244.
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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
Official Representative in Romania at HiWayFX
http://lordoftruth.blogspot.com
samer@hiwayfxglobal.com
+40 734 277 757
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.
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
