Uncategories GOLD

GOLD

January 11, 2016
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Wagdy F. Taher
Fundamentally gold faced many global economy changes in 2015 without serious reaction in any direction. for example ;
  1. Swiss National Bank, by removing the boarder fire of 1.20 Fra/Eur.
  2. European Central Bank (ECB) announced QE program.
  3. Greece crisis bailout.
  4. ECB negative Interest Rate (ZERO) .
  5. US Stock Market continuous its bubbles .
  6. US intentions to hike interest rates through whole 2015 which hiked by end of 2015 for first time since 10 years.
  7. Oil dramatically drop by 70% 
  8. Slowdown in china's economic pushing devaluation of Yuan, also stock market crashed Shanghai.
  9. The unstable geopolitical environment, i.e Middle East , Ukraine, migration crisis in Europe,  terrorist attacks, Ukraine / Russia crises.
  10.  Added Yuan into its SDR currency basket. .And finally, the Fed hiked interest rates for the first time in almost 10 years.
  11. Last China Central bank added 610K ounces to reserves .
Therefore, above mentioned changes and as well as call it currencies war altogether courage gold to become a safe heaven if not making reversal to north direction.
 Waves Cycle :
Gold in weekly pattern seen as contracting diagonal looked as Ending Diagonal but the most preffered is Flat Expanded.
The wave of (b) not yet finalized due to :
1 - Wave "c" of (b) not yet complete structure.
And/Or
2 - wave (b) in flat extension break down the level of 138.2% of wave (a), and lookign for the next level reverse which is 161.8% of wave (a).

Waves Structure :
We are in structure of wave "iv" of c of (b) which expected to reach level 1136 (upper band of contracting diagonal .


Waves Targets :
Wave "iv" targets :
Current : 1103
1st Wave "v" of 3/C: 1124
2nd Wave (IV of 3   : 1109
3rd Wave  (V= 3     : 1136

Good-Luck with my regards,

Wagdy F. Taher
Financial Market Analyst