Gold (almost) midday update * March 6

Same behaviour as of March 1st & 4th: rejection of lower value areas into the edge of area of balance area ($1567-$1565).

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I will be looking at the intensity of response from sellers in this area (provided a selling reaction takes place). In that case, I will be keying into $1586. In the event prices reaches it, I will be analyzing the (eventual) response from part of sellers.

However, I respect these type of moves, in the sense that they tend to provide clues of further movement into the same direction, ta least in the short term and subject to how intense is the sellers response into key levels.

I will be looking at the intensity of response from sellers in this area (provided a selling reaction takes place). In that case, I will be keying into $1586. In the event prices reaches it, I will be analyzing the (eventual) response from part of sellers.

However, I respect these type of moves, in the sense that they tend to provide clues of further movement into the same direction, ta least in the short term and subject to how intense is the sellers response into key levels.

Thus, there are 3 scenarios I am working on:

a-) rejection into the top end of value area ($1586-$1584), therefore market still balanced and will eventually go to test lows again. IN this case, I would be looking at the possibility of braking into new lows.

b-) consolidation into higher value areas (within) the bigger balance area

c-) buyers keep control, thus braking value area. The hurdle here will be the area denoted by $1596-$1584. $1600 is an important area, followed by $1603, $1610 & $1615, at least in the short term.

DP.-

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