The gold markets fell for the week as the Dollar continued to gain against most things in the markets. The gold markets do continue to have fundamental reasons to rise, and as such we are waiting for longer-term signals in which to go long. The gold market has been bullish for a very long time, 11 years in fact, and as such we think this market will continue higher. We are waiting to see if the $1,650 or the $1,550 holds and shows us a strong candle such as a hammer form which to buy. If not, a break of the previous week's highs will serve as our buy signal.

Gold

Gold Forecast for the Week of March 19, 2012, Technical Analysis

Gold Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1618.60
1628.85
1644.10
1654.35
1669.60
1679.85
1695.10

 Fibonacci
1628.85
1638.59
1644.61
1654.35
1664.09
1670.11
1679.85

 Camarilla
1652.34
1654.68
1657.01
1654.35
1661.69
1664.03
1666.36

 Woodie's
-
1630.10
1646.60
1655.60
1672.10
1681.10
-

 DeMark's
-
-
1661.98
1650.54
1636.48
-
-