Gold: Key Price Points To Watch On Monday

Friday’s dirge was dispiriting, but we can take a patient view nonetheless because the weakness merely touched the 1191.60 downside target I’d broached here without demolishing it. The decline left us with the prospect of a marginally lower low on Monday at 1186.90, calculated by shifting the b and c coordinates down a peg (to B2/C2). You could bottom-fish there with a stop-loss as tight as four ticks. Alternatively, the futures would need to close above 1208.40, the midpoint pivot of the large ABC pattern shown, to suggest bulls are about to roll.

gold_30_March_2015

 

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