{"id":61360,"date":"2014-10-03T09:32:21","date_gmt":"2014-10-03T13:32:21","guid":{"rendered":"http:\/\/countingpips.com\/?p=61360"},"modified":"2014-10-03T11:13:42","modified_gmt":"2014-10-03T15:13:42","slug":"gold-breaks-1200-following-robust-u-s-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/gold-breaks-1200-following-robust-u-s-data\/","title":{"rendered":"Gold Breaks $1,200 Following Robust U.S. Data"},"content":{"rendered":"<div id=\"inves-3166625849\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 3, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <strong>Bearish<\/strong><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>S. Non-Farm Employment, at 248K, blew positive expectations out of the water;<\/li>\n<li>Smaller than expected Trade Balance, while Unemployment Rate dropped to 5.9%;<\/li>\n<li>Gold is now on a clear path towards $1,182 and lower.<\/li>\n<\/ul>\n<p><em>Gold took a steep dive lower immediately post-NFP, pricing fresh lows for 2014 as the previous metals becomes increasingly unattractive for investors.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p>During the second half of September Gold entered a temporary corrective phase as selling pressure relaxed and dips decreased in size. Despite slowing down, the precious metal failed to attract buyers between $1,207 and $1,220, allowing the downtrend to gradually price in Lower Highs and Lower Lows.<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/10\/Gold3rdOctober1.png\" alt=\"Gold3rdOct\" \/><\/p>\n<p>Today\u2019s bearish acceleration triggered a break below 2<sup>nd<\/sup> January low of $1,203. This move will most likely have long-term consequences. Taking into consideration both the economical situation and a very bearish technical landscape, bears will likely remain in control as Gold heads for yet another losing year.<\/p><div id=\"inves-2224144676\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>Price is currently flirting around $1,200, a large psychological handle. This level is expected to break as well shortly, since a larger attraction area is located at $1,182.20 (long term double bottom formed throughout 2013 and 100SMA on Monthly Chart). If Gold tumbles below $1,182 as well, the markets could easily repeat what happened after $1,525 broke back in April 2013.<\/p>\n<p>*********<br \/>\nPrepared by Alex Z., Chief Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bearish Key Takeaways S. Non-Farm Employment, at 248K, blew positive expectations out of the water; Smaller than expected Trade Balance, while Unemployment Rate dropped to 5.9%; Gold is now on a clear path towards $1,182 and lower. Gold took a steep dive lower immediately post-NFP, pricing fresh lows for 2014 as the previous [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-61360","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/61360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=61360"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/61360\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=61360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=61360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=61360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}