GOLD Analysis Update

with Vito Henjoto May 2, 2014

Hey, good morning everyone, this is Vito Henjoto, Senior Technical

Strategist at Invast Financial Services. Today is the 2nd of May 2014.

NFP day tonight --- and we want to focus on gold as well as the global

indices today. Let�’s just jump straight into gold prices here. We haven’t

seen a lot of action here on gold, but that’s slightly going to be changing

tonight. We are still bearish on gold for a few good reasons, one, the

rejection that happened at 1310 a few days back --- that’’s still there. What

happened during that period of time is that it actually came back and

tested the Ichimoku cloud as a resistance after it transitioned over. So right

now, we are trading below the Ichimoku cloud and we also have 1310 to

1340 as a resistance. In terms of support, we do have 1225, and we are

so close to 1225 right now.

Momentum on the daily time frame --- we still have a lit bit more

momentum left there. Stochastics is indicating neutral at this point in time.

If there’s a break below 1225, then it can trigger for the setting on the gold.

That�’s what we’’ve been seeing for a while now. We’re anticipating for that

to happen on the back of the NFP numbers tonight, so keep a close eye

out for gold. We�’re still bearish on gold.

The support intraday-wise that’ll be 1225. Target to the downside will be at

1225. The other global indices --- let�’s take a look at the US 30. Before

that we have seen a little bit of a rally happening inside the global indices,

but bull shouldn’’t be too happy yet. First of all, we are looking at a

potential overbought condition across all the global indices on the US 30

futures. It hasn’’t actually created a new high as of yet. That’’s16650 level

and still holding there as a key resistance. Unless price breaks through

above that price level, then we�’re not going to be considering this as an

option continuation as of yet. However, we do expect correction to happen.

We�’re not saying this is bearish or anything like that.

Let�’s take a look at the Ichimoku cloud itself. It can probably tell you what’’s

happening here, that we do have a lot of support all the way down to

15995 -16000 level. So we do have a lot of support for US 30. However, is

it a good time to get into the US 30? Probably not, we’re likely going to be

seeing a retracement happen before any further gains is possible.

Stochastics is currently trading above 80. Once it crosses that back down

below 80 then that’’s going to be overbought and we are likely going to be

seeing that correction happen. How deep is that correction going to be?

We’re looking to a return toward 16250 and 16200 for the US 30.

JP 225 --- we�’re still trading below the Ichimoku cloud and haven’’t seen a

lot of progress at this point in time. But check out the Stochastics here.

This is still creeping up. JP 225 probably still has a little bit more

momentum to push higher. Do keep in mind, we need to keep an eye out

for the 50 percent retracement here at 14650, and that is going to be the

key resistance level to watch out for --- so 14650 for the JP 225. Watch out

for that level. If any rejection happens at 14650, then good entry into going

short for the JP 225.

The AUS 200, some of you probably have seen this from the live market

analysis. Our prices are actually trading back below 5500. We do have

support coming in at 5425 and that’’s likely going to be holding for a little

bit. However, check out the momentum here. We just came off the

overbought condition again. We do expect prices to pullback a little bit.

Retracements are likely going to happen and there’’s actually a trend line

that we can see here. Prices are kind of trading below that price level so

that would be an indication that we could be seeing a much steeper

correction to the downside. We are currently looking at 5325 and 5300 as

a potential bounce back level. That’’s likely going to hold a further drop –in

the AUS 200.

NASDAQ --- something we talked about just recently. Even though we see

a little bit of recovery, that is still being kept by this resistance trend line,

and also, prices are still technically trading below the Ichimoku cloud.

Right now it is actually inside the Ichimoku cloud, but again check out the

Stochastics here. The momentum to the upside is going to be very limited

and we are likely going to be seeing further continuation for the downside

for the NASDAQ, possibly post NFP. We are expecting this to happen in

the next week or so.

That�’s all for today. Good luck with the trades. NFP numbers are coming

out tonight. Our expectation is that we are likely going to be seeing a more

positive number this time around. Our expectation was for 216 --- previous

number was 192. We are expecting a number higher than 220. We have

our team in the office here to talk about the NFP numbers, and the

expectations from most of us here are basically above 220 at this point in

time. I’m expecting 230 myself so we’ll see what happens there. Good luck

with your trades and I’ll catch you guys next week. Visit our YouTube channel to watch Vito’s videos -

www.youtube.com/InvastInsights