Gold Trend May 6, 2014 |
| Posted: 05 May 2014 08:45 PM PDT Follow The Raw & Let Your Dreams Come True Open Real Account ( Standard ) & Get Free €50 ( No Deposit Bonus ) This exclusive offer is available between 25/03/2014 and 25/06/2014 Join us now What You Waiting For?  Long Term ~ Neutral - Need a monthly close above 1800 to confirm the bull market final phase underway. Medium Term ~ Neutral – Need a close above 1312-1322 for bullish trend. A weekly close below 1272 bearish. Intermediate Term ~ Neutral – 1265-1272 downside target met, now need close above 1312 for neutral reading and 1322 for bullish. A close below 1265 goes to bearish reading. Short Term ~ Bullish– The next cycle turn is due begins Friday/Monday and lasts to mid month. A close below 1265-1272 bearish. A test of 1322 should be in play. Initial Resistance 1312-1322 2nd tier 1326-1331 Initial Support 1287-1297 and 2nd tier 1272-1280 On our last update, initial resistance was listed at 1312-1322 and the high was 1316. Support was listed at 1287-1297 and the low was 1299. US F-15 Intercepts Russian Strategic Bomber Near Guam Submitted by Tyler Durden on 05/05/2014 - 16:48 It appears Russian military activities are picking up around the world. As AP reports, the commander of U.S. air forces in the Pacific is reporting a significant increase in activities by Russian planes and ships in the region; adding that "there had been long-range Russian air patrols to the coast of California ... and a U.S. F-15 fighter jet intercepted a Russian strategic bomber that had flown to Guam." Slavyansk Clashes Kill 20 Rebels, Injure Dozens Of Civilians; White House "Extremely Concerned" Unrest Is Spreading Submitted by Tyler Durden on 05/05/2014 - 14:34 Ongoing military operations in Slavyansk have left at least 20 rebels dead and dozens more civilians injured according to Interfax. *SLOVYANSK CLASHES KILL 20 REBELS, MANY CIVILIANS WOUNDED: IFX As RT reports, fatalities are on both sides with little progress reported one way or the other. The White House says it's "extremely concerned" by the deteriorating situation in southern Ukraine Is This The Reason For The Relentless Treasury Bid? Submitted by Tyler Durden on 05/05/2014 - 12:10 Over the weekend, Bloomberg had an interesting piece about two of the main reasons why while stocks continue to rise to new all time highs, the expected selling in bonds - because in a normal world, what is good for stocks should be bad for bonds - isn't materializing, and instead earlier this morning the 10 Year tumbled to the lowest since February, while last week the 30 Year retraced 50% of its post-Taper Tantrum slide, or in short a complete disconnect between stocks and bonds. Global Manufacturing PMI Plunges To 6-Month Lows Submitted by Tyler Durden on 05/05/2014 - 11:09 JPMorgan's global manufacturing PMI tumbled to its lowest level since October 2013 in April with the fastest 2-month drop in almost 2 years. At 51.9, the index is still in expansion (for the 17th month in a row) but the employment sub-index dropped as there is no sign of a post-weather bounce across the world. Coppock Market Message: Get Out And Stay Out - Check Back In Q1 2015 Submitted by Tyler Durden on 05/05/2014 - 12:44 The Coppock Curve's message is straightforward: get out of the stock market and stay out until at least the first quarter of 2015. After five years of upside, the old trading saw comes to mind: bulls make money, bears make money, but pigs get slaughtered. Overview Gold reached our 1st resistance point for the week as it has reached the dual gold channel lines. Recall that THIS IS THE REAL UPTREND LINE FOR 2014 AND THUS IT MAY NOT BREAK ABOVE THIS AREA RIGHT AWAY. But it is just beginning what we hope is the new 2 week uptrend in our short term cycles and thus it is hard to give up on gold here for our short term trade that is long from 1282.20. Still it's a 30 dollar gain and those of you who have more than 1 contract could certainly take profits in one and let the other(s) play out. That would be a conservative move but a good one, as it almost insures a profit on this trade. Gold short term Gold resistance is 1312-1322 Tuesday and support is 1292-1295. The trend is up since Friday and we should see resistance at the above mentioned area.  See Why VantageFx ? _Trade with Winners: Australian financial service providers, Vantage FX, have received a multitude of awards over the years including those from IB Times, Deal Makers, The World Finance Foreign Exchange Awards, Smart Investor and many more. _Vantage FX have: Award-winning Execution Speeds Competitive spreads from 0.0 pips 24/5 Premium Customer Support _Trade with Choice: Take your pick. 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Even though most of the time you may claim your money back,the time wasted is never returned. You should have used that time to learn how to trade! Read it!    YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS 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. King Regards |
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1 Comment for "Gold Trend May 6, 2014"
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