Gold markets were slow to move on Thursday as the markets in general seemed to be very quiet. The area that the markets sit in presently is part of a gap, and this gap has now been filled. The real question is whether or not the market can overcome it. While we truly believe it can, the doji for the session suggests that perhaps a pullback is coming. With that in mind, we are willing to buy as the market dips. The breaking of the top of the candle for Thursday would signal more bullishness, but the breaking of the downside will only have us waiting for some kind of supportive candle. We only buy dips - we don't sell at all.

Gold

Gold Forecast January 20, 2012, Technical Analysis

Gold Pivot Points (Time Frame: 1 Day)

 Name  S1  S2  S3  Pivot  R1  R2  R3

 Classic
1645.8667
1636.6833
1624.3667
1658.1833
1667.3667
1679.6833
1688.8667

 Fibonacci
1649.9703
1644.8962
1636.6833
1658.1833
1666.3962
1671.4703
1679.6833

 Camarilla
1653.0792
1651.1083
1649.1375
1658.1833
1657.0208
1658.9917
1660.9625

 Woodie's
1644.3000
1635.9000
-
1657.4000
1665.8000
1678.9000
-

 DeMark's
1662.7750
-
-
-
1641.2750
-
-