Today’s
subject is Gold … a lot of people start talking about Gold and their
expectations got higher specially after the last week movements that started in
4th of Jan 2016 … the question is “To what extend this surge
will reach ? And whether it will really reach 1190 which is the highest point
reached in Oct 2015 ? “
I
believe we are asking a lot from Gold to reach that level, there is a long
journey ahead of it … yes there are a bullish signals in the lower timeframes,
but when it comes to control, we need to consider daily timeframe … Daily
timeframe will decide next week whether to stop the bullish trend and reverse
back or break the strong resistance at 1118 … there is a high probability that
Gold will not be able to break it and bounce back.
However,
if it really breaks the resistance, then it will go and test another strong
resistance level at 113 … I f it could not break the 2nd resistance, it will start consolidating
between the range of 1118 and 1139 …
Recommendation: avoid Long
positions at this moment until it reach the mentioned resistance level. To get
more information about economics and financial market, please visit my website
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