Gold….Where to from here?

If you want to know if an investment is likely to go up or down... or stay the same...take a look at its price chart. Preferably, the daily, weekly and monthly chart so you get an understanding of the short term, medium and long term outlook. We looked at all three of those last week. So let's look at the weekly today:   The first thing you notice when you look at this chart is … [Read more...]

Gold Ends Week Strongly

Gold closed out the week very strongly at 1276.90. This is above its 200 daily moving average. The relative strength indicator also closed above 70 which is bullish. The +DI line for the ADX indicator is above the -DI line indicating that bulls are in control of this market. Additionally, the ADX line itself is showing an upward trend. Though this is still in the low figures, it does indicate … [Read more...]