Gold Technical Analysis(2016.04.15)
Gold markets fell during the course of the day on Thursday, but found support near the $1230 level. Ultimately though, there is support at the $1220 level, and essentially a “floor” at the $1200 handle. We are waiting to see whether or not we get some type of supportive candle in order to start going long at this point in time. We are still well within the tolerances of the consolidation area that we have been in since the beginning of February, so this point in time we believe that nothing has changed overall in this market.