GOLD 1337 Gold Under Scope short-run: in the last few weeks market moved in opposite direction of the reduction of QE , where market faced physical continues reduction of QE, in addition of the contracts data from China, investors start to dump emerging mrket shares while switching to Gold as safe haven. Quantitative the emerging markets, thereduction ofQE is logical to be faced by dumping ofGold unlessif situations in markets are demanding safe haven, while so far developed markets still showing ability to continue strength while emerging reduction which forced investorsto head toward safehaven with gold above 1270 this may give the marketa new trading zone between 1260 -1360 , this scenario is continues as long as the weekly close sustain above1270 if market managed to jump above 1360 this may open another uptrend movement toward 1420-40 zone , while resistnce for this movement laying at 1350-60 , 1395 , 1420-40 market accelarate the demand for Gold as haven yesterday over Ukrainian situation , while marketso far holding trades below resistance level of1350-60 short-run trading range is expected to be between 1310 - 1360 , while as long as market holding tradesbelow 1360 we will expectanother drop to test 1307-15 support zone above 1360 market may sustain the uptrend movement toward 1420-40 zone Ukrainian Crisis calm down where market back to drop safe haven long-run: the long-run wave still heading down toward 1100 while this scenario need market to hold trades below 1525 , which now consider as the main level between bearish and bullish market DailyTrend: Up SUPPORT RESISTANCE 1337 - 1350-60 1330 - 1395 1320 - 1420 Short term strategy:long(buy) at 1316 , stop loss at 1285 , target 1355-6
Posted on: Wed, 05 Mar 2014 07:06:38 +0000
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