The gold markets fell during the Monday session as the markets were all quiet in general. The gold market is currently looking as if it is trying to form a bit of a base above the $1,650 level, and as such we like it on the long side. Besides, the trend for the last ten years has been decidedly bullish, and there isn't a reason to think that the driving factors are going to change. Everywhere you look, central banks are easing in one form or another.

We are buying a break of the highs from the Monday's session, which is $1,720 or so. The area above could be a bit choppy as there is a cluster of orders there from a couple of weeks ago, but the trend is clear, and as such we can only follow it.

Gold

Gold Forecast March 13, 2012, Technical Analysis

Gold Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1678.13
1685.32
1694.13
1701.32
1710.13
1717.32
1726.13

 Fibonacci
1685.32
1691.43
1695.20
1701.32
1707.43
1711.20
1717.32

 Camarilla
1698.55
1700.02
1701.48
1701.32
1704.42
1705.88
1707.35

 Woodie's
-
1685.73
1694.95
1701.73
1710.95
1717.73
-

 DeMark's
-
-
1705.73
1699.11
1689.73
-
-