Strong resistance at 1668-1672 area
Current rise seems to be over near
1664.96 or 1668.32
After a 45 dollar drop into options expiration, gold should make a bounce towards the 1670-1775 area. With the Fed meeting Wednesday afternoon and then the jobs data on Thursday today is the most likely day gold bounces. The fed will have to be careful on what they say and whatever, the boyz will move gold. The bottom line is that for the moment, resistance should be contained on the chart where at 1670-1675. Support is that downtrend red line that the techs are looking for. However, that mini blue trend line on the chart would be a perfect place to test on any spike down by the fed as it would be enough to perhaps trip up the longs watching the downtrend line. The bottom line for gold is if the FED is being pressured to say things that will keep the rating intact, it would seem that it probably won’t be good for gold. In other words, language that things are getting better spin and laying spin that the Fed is serious about pulling back now that things are a bit better would help hold the ratings intact and take a bit of pressure off. The stock market is high and they could allow to give a bit of ground there so its not out of the question that they say things that would not be gold friendly. Regardless, the control boyz will do what they want with gold anyway.
For the remainder of the day, 1668-1674 is resistance and support is the 1657-1659 area. The overall short term trends still have a down bias. Short term cycles are due for a turn around the 29th / 30th and there’s also a cycle around Feb 4th. Once engaged, the cycles usually last 1 to 2 weeks.
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INVATA SA TRANZACTIONEZI GRATIS PIPSI IN FOREX
Strong resistance at 1668-1672 area
Current rise seems to be over near
1664.96 or 1668.32
After a 45 dollar drop into options expiration, gold should make a bounce towards the 1670-1775 area. With the Fed meeting Wednesday afternoon and then the jobs data on Thursday today is the most likely day gold bounces. The fed will have to be careful on what they say and whatever, the boyz will move gold. The bottom line is that for the moment, resistance should be contained on the chart where at 1670-1675. Support is that downtrend red line that the techs are looking for. However, that mini blue trend line on the chart would be a perfect place to test on any spike down by the fed as it would be enough to perhaps trip up the longs watching the downtrend line. The bottom line for gold is if the FED is being pressured to say things that will keep the rating intact, it would seem that it probably won’t be good for gold. In other words, language that things are getting better spin and laying spin that the Fed is serious about pulling back now that things are a bit better would help hold the ratings intact and take a bit of pressure off. The stock market is high and they could allow to give a bit of ground there so its not out of the question that they say things that would not be gold friendly. Regardless, the control boyz will do what they want with gold anyway.
For the remainder of the day, 1668-1674 is resistance and support is the 1657-1659 area. The overall short term trends still have a down bias. Short term cycles are due for a turn around the 29th / 30th and there’s also a cycle around Feb 4th. Once engaged, the cycles usually last 1 to 2 weeks..jpg)
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
