Gold & The Monthly Closing

 
GCNYNF-M

Gold closed on the monthly level at 1580.2 bearish short-term yet still neutral on the intermediate term where support still lies at 14270. Resistance during March will come down to 16380 followed by 16875 and 17225. May remains the next big target in time. The oscillators on the monthly level have now turned negative. Once we see the three Monthly Bearish Reversals give way, look out below. We should flush the weak long-term bulls out of the trees.