XAUUSD Weekly NEo Wave Plot (02/02/2015)

In last week we witness some sideways and downside move in gold prices,as i told in my last weekly neo wave plot wave-b and wave-c we may witness but wave-b taken entire week,and last few hour of the week we witness some impulsive moves.
Check the last image.(And for last weekly neo wave report Click Here)

NEo Wave Logic :-

• We witness the expanding traingle in gold price.Last leg of triangle we witness few weeks before.
• Last leg of Expanding Traingle is come as impulsive.
• As per post pattern implication of expanding triangle,Its very difficult to retace last leg of traingle.
• From 1167.97 to 1307.67 is the last leg of expanding triangle,Means if my count is correct then we will never see 1167.97 for long time.
• We witness last leg as a impulse means its second logic,its very difficult to retrace entire impulse.
• In last week report i was told for confirmation of impulsive pattern we need to break 1272.06 for the confirmation of pattern ,and we witness the moves below that level.
• In last week either we witness the X-Wave or New pattern is unfolding.
• This week we may see the impulsive move which may leads targets like 1360.99 and more.

In last week because of some time limitations i was not able to post details about impulse but In this week i will post all details about impulse patten in my google group,to join group place the mail.

In last week gold broken weekly supporting level,but unable to give close below that level,For this week also 1254.28(one can use low 1251.84)/1221.32 are some important supporting levels and i am expecting targets like 1360.99/1393.95 and more.
We can see the trendline resistance on 4hourly chart(Check forth image),one can intiate the buy position above this trendline.
For this week also,Buy On every dips is recommended.

Demand-Supply Level For Week::
We can see in fifth chart first time in last few week gold price is respect one supply zone and we witenss the fall in price.And we witess some bounce also from one demand level.
As per demand-supply logic we are in up trend , so we have to use all demand level for buying till we never get a loss.
Demand Zone::1244.26-1224.92
Supply Zone:: 1319.20-1308.64/1339.08-1333.59
(For demand supply level check fifth chart)

Gold price is above all key moving averages as well as pivot level so minor strength is there.
Gold price first time after 4-5 months broken Monthly SAR level and come down to cool down hourly indicator.Gold is till above daily and weekly SAR levels so major strength is there,Below 4hourly SAR level minor weakness will come.
  (For SAR level chack second last image)
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