Gold futures update, tread lightly gold bugs $GC

By February 15, 2016 Gold Futures No Comments

Recently, I’ve only been charting gold futures on a weekly level. The weekly Fibonacci draw is green. It has a target of 1287.4 and two support levels of 1214.2 and 1202.5. As of this writing, gold has just tested the lower support level of 1202.5 (current low = 1202.7)

Gold Futures – Weekly Fibonacci levels

Gold Futures - Weekly chart

Gold Futures – Weekly chart

 

In the chart below, let’s look at some daily levels also. The current daily target is 1283.3 with support at 1222.8 and 1213. As you can see in the daily chart below, those support levels will fail today, February 15th, 2016. This will create a downside, daily target of around 1188.3. I’ll update charts as needed.

Gold Futures – 6 Month, Daily Chart

Gold Futures - Daily Chart

Gold Futures – Daily Chart

 

Thanks for reading and always use a stop !

Dave

 

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