Gold Update * Mar. 5

Regardless of the $14 rally, market is still in balance, as previously noted.

Nothing has changed drastically, aside from some new long inventories which have supported the overnight rally.

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I would like to see some rejection here by sellers regaining control near $1586 to maintain the downside scenario.

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Alternatively, provided buyers keep the pressure during the next session, I will be looking at $1586 to be challenged, followed by $1592 and $1596.

As noted yesterday, the  line in the sand for recovering upward momentum continues to be at  $1600-$1598, followed by $1620-$1615.

DP.-

 

 

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One thought on “Gold Update * Mar. 5

  1. Pingback: Gold update * March 6th | Demian Pack

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