January 5, 2011

GOLD below 50 day moving average

  • Gold Trading below its 50 day moving average.
  • Closing below the cloud may extend this correction.
  • This looks like a normal correction that happens in a bull market unless key levels are taken out.
  • If price come back and close above 50 DMA we may see the up trend in action.
  • Staying below 1360 levels will attract selling.

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