Daily chart of Gold going back to early November 2010. Nice chart for a swing trader....
Gold is currently trading under the mid term AND longer term 100 day moving average, but moved above the short term MA today which is a good sign for the bulls. (Bullish)
The 15dma crossed over the 50dma on 1/20. The 15dma crossed over the 100 dma (Bearish)
Stochastics are on the rise with the K line above 50 and rising. (Bullish)
MACD Histogram crossed over the 0 mid line. (Bullish)
For now, it looks like 1307 was the low for Gold, just below the Oct 5th, 2010 low of 1313. $125 below the all time high set on Dec 7th, 2010. The institutional traders wanted to buy at a lower price and now they have it. As long as Gold stays above 1307, it may be in the next rally to challenge the old 1432 high.
Short term- Bullish
Mid term- Bearish
Long term - Bullish
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