- Gold has made higher highs and higher lows since the July 28th low at $1155. Bullish
- The price is above the three moving averages of 15, 50 and 100. Bullish
- The 18 dma crossed over the 100 dma on 8/16/10. (Indicated with a white arrow) Bullish
- The 18 dma crossed over the 50 dma on 8/23/10. (Indicated with a white arrow) Bullish
- The 15 day moving average is above the 50. The 50 day moving average is above the 100. Bullish
- The MACD Histogram is above the center line. (Crossover on 8/4/10) Bullish
- Both Stochastics K and D lines are above the 80 level and are 'embedded'. (Green Arrow) Bullish
Above is a chart of last years (2009) bull run from Sept 2nd $952 to Dec 2nd $1217. It is speculated that fund managers want to lock in their profits and sold their Gold related assets in December. Why? Because they publish their profit percentage the next year and want to show maximum profits for their fund. Will it happen again this year? Nothing is certain except for death and taxes, but on every pullback since 2002, Gold has come back and has reached new highs.