Wednesday, June 3, 2015

Gold Trend June 04, 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 1255 to remove bearish trend.
Intermediate Term ~ Bearish– Need close above 1222-1232 for higher TREND.
Short Term ~Bearish–Short term cycle window is open until the June 5th close.  
Odds favor a big move but this cycle has a 35% chance of inversion…..
meaning we can still go either way.  

Initial Resistance 1195-1205  2nd tier 1212-1217
Support 1172-1182 2nd tier 1158-1164

The frustrating sideways tight range is now 11 weeks and there is no need to update tonight as nothing has changed and the only thing we can do is post support and resistance.


What Next?
So far this week its the same ---- resistance 1195-1205 and support 1172-1182.
Odds favor the NFP report on Friday usually gets the control boyz out to clear stops.
There is nothing we can do until the trend moves out of this area and it will only do so when price is ready.



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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

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