GOLD Time To Build Long Positions

GOLD Daily

I posted this long term picture few days ago and its still valid. Previous post [here].

Looks like GOLD has entered a consolidation phase near the lower horizontal support area. This area is long held and supported dips since Sep-2011.



I am building long positions starting from 1575 till the way down to 1535. This is a possible area from where Gold can bounce. This is wide area and I am building position in small size. So it will average out at a good price.