Gold & The Monthly Closing


Gold closed on the monthly level at 1580.2 bearish short-term yet still neutral on the intermediate term where support still lies at 14270. Resistance during March will come down to 16380 followed by 16875 and 17225. May remains the next big target in time. The oscillators on the monthly level have now turned negative. Once we see the three Monthly Bearish Reversals give way, look out below. We should flush the weak long-term bulls out of the trees.


Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s