Gold markets fell just ever so slightly during the Monday session as the markets were quiet in general. The market has found nice support in the $1,700 area, and we still think this area should hold. The $1,750 level above is still acting as resistance, but the hammer that was printed on Friday shows that the support is here. Because of this, we are still willing to buy gold on pullbacks on the shorter timeframes as long as we are above the $1,700 level. Selling isn't a thought right now as we are far above the floor we set in this market at $1,500.

Gold

Gold Forecast February 14, 2012, Technical Analysis

Gold Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1692.03
1703.32
1710.93
1722.22
1729.83
1741.12
1748.73

 Fibonacci
1703.32
1710.54
1715.00
1722.22
1729.44
1733.90
1741.12

 Camarilla
1713.35
1715.09
1716.82
1722.22
1720.28
1722.02
1723.75

 Woodie's
-
1702.40
1709.10
1721.30
1728.00
1740.20
-

 DeMark's
-
-
1726.03
1720.31
1707.13
-
-