GOLD technical picture & Outlook on November 10, 2014

Gold is currently at old triple support-turned-resistance in the $1.160/$1.180 region. The daily trend is neutral at current levels, having changed after Friday’s significant price rebound. Factors such as dollar strength, slow global growth and low inflation expectations put pressure on gold price, although central banking induced QE programs from around the world and geopolitical risks could set a floor on prices.

Gold, weekly candles:

Gold(Weekly)20141110153506

Chart courtesy of Stockcharts.com (www.stockcharts.com)

Please read the Disclaimer!

RECEIVE MY TREND TRADING REPORT FREE OF CHARGE, TWICE A DAY, FOR 2 WEEKS BY SENDING ME AN E-MAIL AT: THETRADINGSTRATEGIST@YAHOO.COM !!!