This move will continue for gold and chances are slim for it to roll over considering analysis and present market changes.
Key MA for gold to turn on cycles should hit MA 410 weekly chart. Key MA for gold to cycles first stop at weekly 308 MA from key MA cycles change MA 110. Cycles is key and the first daily cycle of year usually has best stretch and runs ave ridge 8-10 weeks and last bull before 2011 average 12 weeks. We have had higher lows and higher highs on yearly cycles.
Another key is the sentiment for gold that is not to optimistic and also need to reach that point. All factors is still go and any pullback would be short for this cycle.
Just remember RSI can be oversold for long periods.
Key MA for gold to turn on cycles should hit MA 410 weekly chart. Key MA for gold to cycles first stop at weekly 308 MA from key MA cycles change MA 110. Cycles is key and the first daily cycle of year usually has best stretch and runs ave ridge 8-10 weeks and last bull before 2011 average 12 weeks. We have had higher lows and higher highs on yearly cycles.
Another key is the sentiment for gold that is not to optimistic and also need to reach that point. All factors is still go and any pullback would be short for this cycle.
Just remember RSI can be oversold for long periods.
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Pullback for adding
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Trade is starting to pick up for a continuation
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Seems the bounce is finished
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we still on target and broke resistance with first cycle still on target