Gold Forecast January 31, 2012, Technical Analysis

 

Gold markets fell during the Monday session but managed a bounce in the later hours. The market has recently broken out of a strong downtrend line, and the candle that formed on Monday looks to be a hammer above that former resistance. The market has been healthy for quite some time, and we suspect that it will continue to be. The $1,750 level will be resistive, but it looks like we are going to make a serious attempt at it now. A break above $1,750 is a good buy signal. There simply are no sell signals.

Gold Forecast January 31, 2012, Technical Analysis
Gold Forecast January 31, 2012, Technical Analysis
 

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