GOLD(Monthly) Decision Time

FX:XAUUSD   Gold/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
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out