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 1172 to remove bearish trend.
Intermediate Term ~ Bearish– Need close above 1148 for higher TREND.
Short Term ~bearish– Support is 1072-1082 and at 1095. The short term trend is again bearish.
Initial Resistance 1114-1124 2nd tier 1132-1138
Support 1095-1102 2nd tier 1072-1082
The global slowdown is accelerating as even the luxury area is now being hit.
Asia-Pacific is Prada's biggest market, representing 36 percent of total revenues. Greater China alone accounts for 22 percent, or 774 million euros.
Betting on fast-rising Chinese consumer demand, Prada picked Hong Kong for its market debut in mid-2011 and used the cash to repay debts and fund a costly retail expansion, opening 260 shops worldwide in four years.
But after being the growth engine of the luxury sector for years, China has become a headache for big brands as its economic growth began to slow. The main stock market index has slumped almost 40 percent since a seven-year high in mid-June.
The Milanese group has seen profit margins fall in recent quarters as revenue weakened while costs rose.
Retail sales in the Asia-Pacific region fell 17 percent at constant currencies in the three months to the end of April, rising marginally only thanks to the foreign exchange boost.
Prada said last month trends in the Asia-Pacific region were little changed due to persistent difficulties in Hong Kong and Macau. It releases full first-half results on Sept. 15.
This global slowdown will increase the already debt laden economies of the world until at some point there will be a default or a trigger point that will unleash an ultimate liquidity squeeze. It will be at that point that the interest rates will begin to rise and that will squeeze even more defaults. The signs are everywhere.
The slide in commodity prices...
China’s slowing economy and stock bubble…
Falling oil prices and the collapse of the fracking industry…
Gold’s lost glory...
The list goes on.
Right now we’re in the most volatile time since 2011, maybe 2008. Less than a month ago, U.S. stocks broke through a resistance level that, to me, is a sign this bubble is finally on the brink of blowing.
Bottom line: aside from a brief blip just after the financial crisis, the US never actually deleverd. In fact, aside from Europe where since 2010 the peripheral nations have been stuck in a state of constant depression with nearly 50% youth unemployment and ~20% total unemployment, nobody has delevered anywhere!
Gold Short Term
Right now the 1095-1102 area is last support until 1072-1082. As far as resistance, we should see 1115-1125 as upside resistance. It’s possible we could bounce there before resuming lower but overall, we should still be bearish on the gold price on all time frames.
That lower line just under 1100 is the last support until 1072-1082. If that area is broken, then the 1035 area is next support and then 1000.
Bottom Line
It’s best to remain cautious, and to continue to believe that the downtrend in gold is not yet complete.
September is a transitory month and it has been the killer month for gold since 2011. If we are still in a bear market gold could very well turn down again this month.
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Welcome to my blog where you can learn how to trade the Forex Market for free.Just pure learning! It will be of great fun.The top of the page is where your quality education material resides. The material is all created by myself and not copied from anywhere. There is a lot yet to come since there is a lot that you need to learn, and there is a lot that I need to share with you! So please just be patient – it will be worth it.You can judge by yourself the quality of information that I will be giving you in the next pages. So just go now and start learning!
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FEAR STRIKES OUT
Rumor and rumors of rumors finally took over common sense and fear was at a premium. The VIX soared to a four year high as "sell stocks and ask questions later" became the mood for the day. Rumors about a French credit downgrade and the health of some French banks created a selling frenzy. Forget that all those rumors were denied by all major reporting agencies, when traders are blinded by fear they might believe almost anything. When people trade irrationally there can be some marvelous opportunities for those that keep a calm head and a keen eye. The best way to combat fear is to have a plan that seeks to find moves that are overdone based on reality and to doggedly control your risk. If you have a solid plan that you stick to then fear goes away and you can take advantage of what the market brings you. Jimmy Piersall was crazy and he has papers to prove it and I may be crazy(not endorsed by any rating agency) but as bad as things are (and they are bad) they are not as nearly as bad as yesterday's market action would have you believe. Now I'll admit that some fear was totally justified especially last week but now for many stocks and some commodities, it is getting a little bit silly. I am not calling a stock market bottom necessarily, but at the same time a lot of stocks are ridiculously oversold due to fear and the loss of any rational thinking. When you trade by fear you will make bad decisions.
Fear strikes out and so will you.
The best way to combat fear is to have a plan which includes taking your losses if necessary only so you will have the capital to take advantage of the values that those driven by fear will give you. If volatility is too much for you, stay on the sidelines because if you had a good plan you should be out and you can then wait for...........
THE SUN TO RISE AGAIN.
The best way to combat fear is to have a plan which includes taking your losses if necessary only so you will have the capital to take advantage of the values that those driven by fear will give you. If volatility is too much for you, stay on the sidelines because if you had a good plan you should be out and you can then wait for...........
THE SUN TO RISE AGAIN.
M Samer Al Reifae
Official HiWayFX Representative in Romania
http://lordoftruth.blogspot.com/
samer@hiwayfx.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
