Taking A Look At Gold

Here's┬áthe daily chart of gold: Looking at the ADX indicator, you can see that the negative DI line is now firmly above the +ve DI line, clearly showing that bears are in control. The MACD indicator is also negative, having crossed over its signal line just before the end of January. Both lines are pointing downward, a bearish sign. The histogram is also getting larger, showing the … [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...]