Gold Daily and Silver Weekly Charts – Goodbye to February, Non-Farm Payrolls on Friday

And so we close the door on the leap year-lengthened month of February, which was a particularly good month for gold.
And as always with the end of one month and the beginning of another, there will be a Non-Farm Payrolls report at the end of this week.
Gold is clearly in a symmetrical triangle, trying to decide which way to break, up or down, from this potential ‘cup and handle’ formation. And remember right now it is all potential, not having set a firm handle and broken up and out from that retest.
I included some material from a few years ago that shows the formation when it works in both a textbook and a ‘real life’ example. You may read about it here.
I have included the box scores from The Bucket Shop, both for the end of February and the piddling deliveries seen so far on the March contracts.
It turns out that the little dog we ‘rescued’ from the mean streets of Newark is not a shih tzu after all, a breed with which we are familiar. She is indeed a mix with a good dose of Japanese Chin, and is exhibiting all the characteristics of one. She does not have an ‘undercoat’ and her hair is much more like a Chin than a Shih Tzu. She even did the ‘Chin spin’ for us yesterday.

This post was published at Jesses Crossroads Cafe on 29 FEBRUARY 2016.