Gold – Support Level at $1215 Remains Firm

Gold for Tuesday, September 30, 2014

For more than a week now Gold has thoroughly enjoyed solid support at $ 1215 after falling strongly a couple of weeks ago from $ 1240 to just below $ 1215. The next obvious level of potential support remains at $ 1200 which is a long term key level. If gold was to fail at this level, then it is likely the flood gates will open and the shine will have definitely worn off. Several weeks ago Gold was enjoying a resurgence as it moved strongly higher off the support level at $ 1275, however it then ran into resistance at $ 1290. In the week prior, Gold had been falling lower back towards the medium term support level at $ 1290 however to finish out last week it fell sharply down to the previous key level at $ 1275. Over the last month or so the $ 1290 level has shown some signs of support and held gold up until its recent sharp decline. During the second half of June, gold steadily moved higher but showed numerous incidents of indecision with its multiple doji candlestick patterns on the daily chart. This happened around $ 1320 and $ 1330.

The OANDA long position ratio for Gold has steadied around 70% as gold finds solid support around $ 1215. At the beginning of June, gold did very well to repair some damage and return to the key $ 1275 level, then it has continued the momentum pushing a higher to its recent four month high. After moving so little for an extended period, gold dropped sharply back in May from above the well established support level at $ 1275 as it completely shattered this level falling to a four month low around $ 1240. It remained around support at $ 1240 for several days before its strong rally higher. It pushed down towards $ 1280 before sling shotting back and also had an excursion above $ 1300 for a short period before moving quickly back to the $ 1293 area again. Over the last few weeks gold has eased back from around $ 1315 to establish its recent narrow trading range below $ 1295 before its recent slump.

Way back since March, the $ 1275 level has established itself as a level of support and on several occasions has propped up the price of gold after reasonable falls. Throughout the second half of March gold fell heavily from resistance around $ 1400 back down to a several week low near support at $ 1275. Both these levels remain relevant as $ 1275 continues to offer support and the $ 1400 level is likely to play a role again should gold move up higher. Through the first couple of months of this year, gold moved very well from a longer term support level around $ 1200 up towards a six month higher near $ 1400 before returning to its present trading levels closer to $ 1300.

Gold settled modestly higher on Monday, but the metal’s gains were capped as the dollar seesawed between negative an positive territory. U.S. gold futures finished the session $ 3.40 higher at $ 1,219.80 an ounce. Spot gold was last down 0.2 percent to $ 1,217 an ounce. Cash prices had reached a nine-month low of $ 1,206.85 on Thursday, before recovering slightly. The dollar was unchanged against a basket of major currencies and still close to a four-year peak hit earlier in the day as the market looked ahead to a series of important economic data, culminating in the release on Friday of U.S. September non-farm payrolls. The bigger impact on gold prices could still come from U.S. data as market players seek to gauge the strength of the economy and its impact on Federal Reserve policy. Strong economic data could prompt the U.S. central bank to raise interest rates faster and sooner than expected, which could boost the dollar and hurt non-interest-bearing bullion.

(Daily chart / 4 hourly chart below)

Gold September 30 at 00:40 GMT 1216.1 H: 1223.3 L: 1214.9

Gold Technical

S3	S2	S1	R1	R2	R3
1215	1200	—	1240	1290	—

During the early hours of the Asian trading session on Tuesday, Gold is remaining quite steady right above the support level at $ 1215 after finishing last week falling sharply back down towards the support at $ 1215. Current range: trading right around $ 1216.

Further levels in both directions:

• Below: 1215 and 1200.

• Above: 1240 and 1290.

OANDA’s Open Position Ratios

(Shows the ratio of long vs. short positions held for Gold among all OANDA clients. The left percentage (blue) shows long positions; the right percentage (orange) shows short positions.)

The long position ratio for Gold has steadied around 70% as gold finds solid support around $ 1215. The trader sentiment is strongly in favour of long positions.

Economic Releases

• 23:30 (Mon) AU AIG Manufacturing PMI (Sep)


• 23:50 (Mon) JP Tankan (Q3)


• 00:00 NZ NBNZ Business Confidence (Sep)


• 01:30 AU Private Sector Credit (Aug)


• 03:00 NZ Monetary Aggregates M3 (Aug)


• 05:00 JP Construction orders (Aug)


• 05:00 JP Housing starts (Aug)


• 08:30 UK Current Account (Q2)


• 08:30 UK GDP (3rd Est.) (Q2)


• 08:30 UK Index of Services (Jul)


• 09:00 EU Flash HICP – Core (Sep)


• 09:00 EU HICP


• 09:00 EU Unemployment (Aug)


• 12:30 CA GDP (Jul)


• 12:30 CA Industrial product price index (Aug)


• 12:30 CA Raw Materials Price Index (Aug)


• 13:00 US S&P Case-Shiller Home Price (Jul)


• 13:45 US Chicago PMI (Sep)


• 14:00 US Consumer Confidence (Sep)

* All release times are GMT

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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Plug Power Surges After Earnings – Business Insider

Rob Wile Mar. 13, 2014, 9:45 AM5,758 Email More Share on Tumblr Plug Power Plug Power shares are going bonkers after the fuel cell machine distributor reported revenues of $8 million versus $5.9 million in the same quarter last year.That beat the lone estimate from Cowen, which also just put together a registered offering for the firm, of $7.4 million, according to Marketwatch.Plug Power also narrowed adjusted losses to $0.08 a share compared with $0.25 a share last year. That was in-line with Cowen’s estimate.Plug Power said orders for the 2014 fiscal year have already exceeded $60 million.Shares were up nearly 22%. Ballard, which supplies Plug Power with the fuel cells themselves, was up nearly 11%. FuelCell Energy, which makes power generation units for locations and …

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Plug Power shares are going bonkers pre-market after the fuel cell machine distributor reported revenues of $8 million versus $5.9 million last year.

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How three common pitfalls of social enterprises can be avoided

The social enterprise revolution of the last decade has been a success. Businesses have adopted the skills of entrepreneurship and found innovative, efficient, and effective solutions to social problems.But many businesses face challenges trying to balance for-profit endeavors with social objectives, and end up trapped by these familiar pitfalls:The one size fits all modelBusiness strategies that are proven successful in one community may not work in another.Development Alternatives Inc. (DAI) provides energy resource management, public health solutions and works with countries recovering from civil war. The firm advocates for government accountability and the creation of competitive business environments in the more than 150 countries in which it has worked.Although many of DAI’s projects have been successful, it has tripped a few times, like …

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The social enterprise revolution of the last decade has been a success. Businesses have adopted the skills of entrepreneurship and found innovative, efficient, and effective solutions to social problems.

But many businesses face challenges trying to balance for-profit endeavors with social objectives, and end up trapped by these familiar pitfalls:

The one size fits all model

Business strategies that are proven successful in one community may not work in another.

Development Alternatives Inc. (DAI) provides energy resource management, public health solutions and works with countries recovering from civil war. The firm advocates for government accountability and the creation of competitive business environments in the more than 150 countries in which it has worked.

Although many of DAI’s projects have been successful, it has tripped a few times, like all groups working to solve complex problems.

DAI attempted to establish an urban garden program in Ethiopia using a drip irrigation system that had been successful in other countries. But Ethiopia’s topography and shortage of water put the brakes on the project.

“Failure was about learning,” said Robert Salermo, a development specialist at DAI, in an interview with DevEx. “We failed, learned, adapted and moved on.”

The company turned failure into success by collaborating with local residents to design a watering system better suited for the region.

Non-profit and for-profit confusion

In pursuit of social change, some social enterprises attempt to follow a business model that’s better suited for a non-profit organization.

Generating a profit can be difficult for any business. But social enterprises face even tougher obstacles because they have goals and obligations that purely money-making enterprises do not.

Many social enterprise start-ups rely on fundraising, but this risky form of funding can’t sustain a business. The entrepreneurs then have to split their focus between competing for limited donor dollars and developing independent ways to support themselves and fuel a social benefit.

Saul Garlick founded ThinkImpact in 2002 to send U.S. students to South America and Africa to build relationships within communities and use existing resources to find solutions to local problems.

ThinkImpact grew. By 2010, more than 100 students had worked in South Africa and Kenya, creating services such as health workshops, seedling nurseries, and cleaner cookstoves with local participation.

However, Garlick needed to raise around $400,000 a year to finance the endeavor. The constant fund raising and providing the transparency that donors demanded exhausted the company’s employees, who made below-market wages.

“Nothing about that scenario was sustainable,” Garlick told The New York Times. “Scale depended solely on fundraising ability.”

Garlick eventually converted to a for-profit business model. Now universities pay ThinkImpact a fee to lead student trips to Africa. The payments cover operating costs and are ThinkImpact’s primary source of revenue.

“I think people make the mistake of distinguishing for-good vs. for-money,” said Garlick. “The notion that nonprofits are the right vehicle for doing good in the world is no longer true… Today ethical, well-run businesses with products that make life better are remarkable at improving lives at scale.”

Not building an effective, trustworthy team

Social entrepreneurs wear many hats within their company. They’re passionate about their vision and are personally invested in their company success. But that also can leave them bogged down by everyday decisions.

Hiring the right people in the right roles can free entrepreneurs of some duties and responsibilities, but first they must ask themselves questions such as What am I good at? What do I enjoy doing? What kind of people do I need around me?

When executives understand their strengths and priorities, they can create a leadership team comprised of people with complementary skills, such as problem solving, strategizing, financing and networking skills.

“If you have a lot of corporate refugees who know strategy and process, they can scale like champions, but you won’t have deep programs,” said John Wood, founder of Room to Read, to the Stanford Social Innovation Review. “Conversely, if you only have a lot of programmatic specialists with nonprofit backgrounds, your programs are incredible, but they don’t scale.”

Some tips for selecting the best team for a new social enterprise include hiring locally, investing in long-term training, and encouraging collaboration by setting up structured meetings.

Mistakes happen. DAI’s irrigation project in Kenya started out all wrong, and ThinkImpact didn’t initially figure in the time and energy demands of fundraising. Hiring the right team can make all the difference for a company.

Social entrepreneurs can take a powerful steps towards success by turning their mistakes–and the mistakes of others–into positive lessons. But only if they share them.

Articles You Might Like:

The Middle East and North Africa’s youth wave: Addressing social issues through business

Talent scramble: 5 smart staffing tips for social enterprises

Quotable: Why social entrepreneurship is so promising

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Stolper Is Stolpered Out: Goldman's Chief FX Strategist Leaving The …

The one man who singlehandedly generated over 10,000 pips in FX profits for Zero Hedge readers who faded his each and every call over the past 5 years, is finally gone.GOLDMAN CHIEF FX STRATEGIST STOLPER SAYS HE’S LEAVING FIRM GOLDMAN’S THOMAS STOLPER SAYS HE’S SETTING UP OWN VENTURE It appears that the muppets have spoken up and advised Lloyd they no longer enjoy being run over by a steamroller. What do we mean? The following sampling of historic headlines should explain it:Stolpered Out Slaying Stolper Strikes Again A Stopped Out Stolper Strikes Again Goldman’s Tom “FX Scourge” Stolper Resumes Legendary Muppet Slaying Unleashed Stolper Means Muppets Pulverized Again Stolper’d Out: Muppets Slain As Usual By Latest Goldman FX Reco Goldman’s Thomas Stolper Comes Clean On The EURUSD: …

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The one man who singlehandedly generated over 10000 pips in FX profits for Zero Hedge readers who faded his each and every call over the past 5 years, is finally gone. GOLDMAN CHIEF FX STRATEGIST STOLPER SAYS …

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