bajajharsimran

GOLD(Monthly) Decision Time

FX:XAUUSD   Gold Spot / U.S. Dollar
  • Everyone is Busy with Daily and Hourly charts,So I have stepped back and trying to shed some light on Monthly as it is at a very Crucial Decision point.


  • Falling Trend line from all time Highs we hit in 2011 is here to decide the faith of Gold             ;)


  • Short Term Correction at least to $1200 is expected in coming month or two, it may not come in light of some Big Global Risk event.


  • Big Supply zone at $1500 - $1600 which is also a important Fib level.


  • Best Demand Zone from a Decade perspective is lying at $980 - $890 which again is a important fib level.



  • Medium Term Traders Look to Buy around $1200 levels and look for break of the falling trend line .


  • Long Term Investors should Buy around the marked Demand Zone as it will offer them best risk to reward ratio.


I hope i have not disappointed anyone neither Bulls Nor Bears :) I have something for everyone ;)

Take Care
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