GOLD What NEXT ??

GOLD ... We updated charts and our views here on Nov 2, 2015 ... 

The Link for the same is here, http://fxmagician.blogspot.in/2015/11/gold-xauusd.html

We Clearly Mentioned ... Remember it is not Uptrend, Major Trend is Still Down and We are witnessing a Trend withing the trend. The Upper Resistance Mentioned was @ 1199 

Trade Carefully with the Major Trend in Mind always. Don't Jump in with Heavy Positions considering short term trend. Short Term Trends tend to be false any time. 

Now is the time to revisit and recalculate things with the Long Term Perspective again, as the Short Term Trend Fail with Breaking all levels, 

This is New Monthly Chart for More clarifications. 

This Chart Indicates, We may be near The Bottom of Our Long Term Downtrend., The Lowest Rising Trendline is Drawn from the Resistances somewhere in 2000 to till date, which is a considerably long period. The Middle Rising Trendline was also drawn from Resistances faced somewhere back in 2007 - 2009 period and it certainly proved right in the 2014 period. where it worked as a Support and after a certain period worked as a Resistance also. 

Now The Falling Channel Support Line and Rising Channel Support line crossing in the major support zone. We have multiple supports in this zone, One of the Important Support is around 1070 level and then at the crossing of support lines around 1015-1025 region. We may consider a tail of the candle below this level upto 980 level. 

From Today's Price around 1080.. We have a downside Risk of 100 USD in the Price, which is reasonable, enough for a Investing Angle in a Precious Metal, which is having tremendous upside potential in Long Term. 

Whatever Other Analysts and Experts say, I Believe GOLD will always be the safe heaven for Investors across the World, including Majority Central Banks who Hold Biggest percentage of Gold Reserves across the World and Still Keep Adding to it whenever the price falls considerably. It is a rare Metal, having limited resources and unlimited demands. And Equally High Production Costs. 

Gold Investors May Think of Adding Long Term Buy Trades at 1080 and 1040 Levels with Stoploss around 980 levels and Targets Coming around 1244, 1344 and 1422 Levels, where we will revisit the strategies. Good Luck, Be Smart, Invest Smart !!