VADILAL FOREX AND CONSULTANCY SERVICES LTD.

vadilalmarkets.com
SPOT GOLD: TECHNICAL OUTLOOK 16 JANUARY-2015
SPOT GOLD DAILY CHART

CHART/DATA SOURCE tradingview

Yesterday gold price breach $1,244 level after SNBs shocking decision to drop its peg on
the EUR/CHF. Technically it made inverted Head-and-Shoulders pattern classic price-action pattern
shows a shift from a downtrend (lower lows and lower highs) to an up-trend (higher highs and higher
lows) and is typically seen at major bottoms in the chart. This weeks conclusive break above the
neckline confirms the pattern and suggests that we may see further strength in the yellow metal over
the coming weeks towards $1,300 level. Technically RSI oscillator is reading above 50.0 level.

SUPPORT

RESISTANCE

$1,244

$1,292

$1,222

$1,314

VADILAL HOUSE, NR.NAVARANGPURA RAILWAY C, NAVARANGPURA, AHMEDABAD-380 009

PHONE NO.: 079-26400569 /079- 30153388 (TELE FAX): 079-26564019 TO 24
E-MAIL: metal@vadilalmarkets.com

VADILAL FOREX AND CONSULTANCY SERVICES LTD.

vadilalmarkets.com
SPOT GOLD WEEKLY CHART

Our view will be revert if price trade below $1,184 level on closing basis.
Economic Data Calendar:
1, ECB meet @ 22 January
2, FOMC meet @ 29 January

Disclaimer: This is for reference and private circulation only and is subject to the express understanding that it is on no account to be communicated to a third
party. Though publication is ensured with market information, this should not be considered as contractual counsel and Vadilal will not be responsible for any
action taken by the reader of this report.

VADILAL HOUSE, NR.NAVARANGPURA RAILWAY C, NAVARANGPURA, AHMEDABAD-380 009

PHONE NO.: 079-26400569 /079- 30153388 (TELE FAX): 079-26564019 TO 24
E-MAIL: metal@vadilalmarkets.com