Gold Technical Analysis (2016.03.01)

Gold Technical Analysis (2016.03.01)

Gold markets initially fell during the course of the session on Monday, but found enough support below the $1220 level to turn things back around and form a slightly positive candle. With that being the case, looks as if we are still within the triangle that has been the highlight of recent consolidation. At this point in time, we believe that the markets are simply trying to build up enough momentum to finally break out to the upside again and continue the longer-term uptrend. Pullbacks will be bought and of course so will breakouts to the upside at this point in time.

Gold Chart

Source: FXEMPIRE