Gold for now..

The impact of the recent FED meeting has gold breaching the $1200 line. It is expected to go even lower. It may staged a rally up sometime in future- though its unlikely. U.S. home resales hit a near one-year low in November and new filings for unemployment benefits unexpectedly rose last week, putting a wrinkle in an otherwise brightening economic picture. In addition to that, the tapering has begun. The US dollar and equities will stand to gain. STI has broken a recent support convincingly and is threatening to trade even lower now. Technically STI looks vulnerable as most indicators are showing bearish readings. Majority of the stocks are trading below their 20-day moving average which typically means we are in a bearish market in the near term. In trading, it is very important to plan your next move before it happens.