Review: (weekly)

The gold price was opened at 648.75, week high at 655.1 week low at 636.5 and week closed at 652.4. The gold price climbed almost 2 weeks high because of house lending concern weaken US dollar.

Technical:

Daily Charts

In the daily chart we can see the gold price is moving within a range of 642 - 656. With other analytical indicators shows the gold would have a rising trend is buliding up in the near future. SMA 10 is moving up and try to a cross SMA 20. Once the cross is made. The gold price would have a great energy to move upward.

Hourly Charts

On the hourly chart, it is showing the up trend is made and seems the top would reach 658. Analytical indicators are on a high range. The lower boundry is on 650, and upper bound is on 658

Market News and Data:

No important news release in US today. Note that Bank of Japan will have meeting about rates tonight and tomorrow. US FED would have FOMC meeting regards on meeting on 20-21 Mar.

Strategy:

Long Position: 650
Stop Loss: 647

Short Position: 656, 658
Stop Loss: 659, 661