- 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 and descending. Neutral
- Both Stochastics K and D lines are above the 80 level and are 'embedded'. Bullish
The low of the day touched the 15 dma which is the first level of support. Because the stochastics are embedded, breaks may present buying opportunities. It may be just a matter of time before we breach the last high made in June of $1266.50 indicated by the white horizontal line.