Key Inflection Level in Spot Gold?

Discussion in 'Technical Analysis' started by DannyBly1, Sep 19, 2012.

  1. Gold back at 6-month highs after Bank of Japan stimulus -

    Looking at the daily chart we can see that Spot Gold (XAU/USD) is trading right at resistance of the major downtrend line and also that MACD is close to the zero line.

    Chart courtesy of Oanda

  2. ==========
    Sounds about right, Dan;
    most of the 5 year trends are up , 3 year trends are UP, so its most likely an investors paradise.

    I like medium term trends also,and frankly i've seen better HI percentage med term trends. But so much money has been made on low %% hit rate ,long term trends, so I am not really bearish. Many trend followers are bearish on big bank sector,BAC, C.
    Citi is actually a penny stock[$3.303+/] but reverse split 10 times.Last quarter stock bullish bias could even lift a sinking boat a bit,LOL

    But none of this is a prediction: Wisdom is profitable to direct.:cool: