Gold Market 3/29/17

Gold had a sideways move today. Low volume so there was not enough energy to push higher and the bears could not force it down. I am looking for it to test the $1,265 area to see it will push higher or if it fails the bears will be in control. I did not make a screen shot but if look at the 4hour chart you can see Gold hitting the 38.2% retracement from the low on 3/21 another strong sign for the bulls. Should the price fall below $1,2,40 the test of the $1,265 may not happen for a while and the bears will have control for a time.

The mining stocks are still mixed. Some are showing strength and other are trading sideways.

Watch the FX markets the Yen has been down for three days with Gold trading sideways. Should the Yen continue down it could unleash the bears for gold. The fact that Gold has been sideways while the Yen is down is another positive for gold

Comments welcome.