January 27, 2014

GOLD Trend Analysis

  • I was expecting a faster up move for gold from the pattern shown in last chart But Price is again showing weakness near 200 Day SMA. First chart shows the recent sell off's from 200 SMA.
  • 2nd chart shows price struggling to break above the cloud. For bulls of Gold price must stay above the cloud for an attempt to break above 200 SMA.
  • Last chart shows crucial price zone around 1250 level. Bulls will become weak if price starts to trade below 1250.
  • ES Chart analysis

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