Gold Analysis

[ALex]

Gold Levels - 02.01.2015

Technically, Gold immediate resistance above at 1190, 1195 1197 level.
Supports below at 1179.50 (Dec 31 Low), 1175 and 1172.50 levels.

[cybercode]

After the release of NFP Friday yesterday, Gold experiencing strong upward, which can be seen breakout resistant level at 1223.12 on January 6 ago, and the price is the highest price in the last week. This breakout movement can be indicated that buyers want a price higher than last week. However, when the upward movement today has not been able to touch on areas of resistance (green box), and for a while only able to approach the price of resistant at 1231.97, then fell down, the possibility of opposition from seller, buyer or partial release of buy. Price trend is still strong dominated by buyers in the weekly average, and in the monthly average (SMA 120), is seen in a flat condition. The tendency to the level where a correction may be seen from the condition of the MA 30 (weekly), still in the riding conditions, the price is above the MA 30 (weekly). That means it is still dominated by the buyer. And if gold continues to weaken, it is determined in the correction is still in its weekly movement, is likely only to close the MA 30, or around the price of 1213.67. From this price can be considered, how the market participants in the trend, continuing dominance weekly buyer, option only buy or continue to fall in the range of flat monthly. Price levels that might be addressed can be noticed on the dotted blue line, if it continues down past the MA 30 and support area is at 1186.81, 1178.26, if it continues to weaken.

[account1]

GOLD 1280

Gold on demand as haven



market jumped into haven Gold after SNB announced last week the ending of exchange rate cap with Euro which placed demand for haven over short-run

while European finance ministers agreed to work with the new Greek prime minister to keep the country in the euro which helped to dump safe haven demand

market managed to jump above 1296 which adding more advance for Gold where 1310 and 1325 is now possible targets

as we see over the chart market facing resistance trends around 1325-30 zone , which may face some selling positions at market there

if market failed to break above 1330 another drop toward 1270 will be expected where trading zone between 1270 - 1330 may occur

main support for the short-run at 1238