Kumowizard

Gold - What to do? Mixed, but it will soon start to move

FX:XAUUSD   Gold Spot / U.S. Dollar
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Daily: Though the Price is still in a downtrend channel , in fact since 8/Dec the Price action is completely neutral and choppy. Price has been trading ard             equilibrium (in the Kumo, ard             Senkou B line), all Ichimoku lines (Tenkan, Kijun and Senkou lines) stay all together. DMI is zig-zag too, with very low ADX . This is a point where we have to really watch for the next break, as that will bring a larger move. It can happen into any directions with seriously 50-50 % chance. Why do I say this? Because theoretically the downtrend should persist, but against that DMI is slightly bullish and also MACD has positive divergence.
Levels: Bearish with a break and close below 1170-75, or Bullish with a break and close above 1210-1215.

4 Hrs: Thin Kumo, Chikou at Price candles, no DMI signal, low ADX , stuck in a triangle. NEUTRAL
Needs to break either 1172 on downside or 1205 on the topside to find next direction.

Gold             is a proxy for following things: inflation expectations (-), USD strength (??? Strong but can see correction so +/-), global risk off mood in financial mkts (+).
As you see thats why Gold             lost directional interest now.

Watch, and trade the break!!!
Gold, will move sidways or down with the continued strength in the dollar. However, if you have a long term view, the best time to buy and hold gold is when the dollar is strong. Historicaly speaking the dollar still has plenty of room to move higher, especialy given the global money expansion that is underway. I will continue to buy Gold related assets as the dollar strengthens, only using money that I do not need in the near term. Every boom has a bust - Take Oil for example.....
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