Gold W5 of M-4 WC 29Feb16 Caution

Gold is still consolidating on the weekly fractal and will break out of the triangle shown which should occur before the 14th March. From MAP waves a further high is required to completed a 5 wave pattern so the trend is up until a confirmation is received to the contrary.

Gold Futures WC29Feb 2016-02-28

The support and resistance levels are shown and once a breakout occurs the targets are shown.

The lower MFWMLL is the downtrend confirmation and this week stands at 1182.74.

 

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