| Gold - Sticking to Uptrend Support Line Posted: 23 Jul 2010 09:32 AM PDT  Price action on gold (a daily chart of which is shown) as of Friday (7/23/2010), continues to hover just above a long-term uptrend support line that extends at least all the way back to the October 2008 low. This occurs after price pulled back to the trendline on Monday and has adhered to its dynamic support since then. As mentioned earlier this week, this is potentially a highly significant trendline touch, as this line has defined the bullish trend in gold for at least the past 21 months. For more technical analysis on gold, please click here for Friday’s (7/23/2010) Chart of the Day.
James Chen, CTA, CMT * For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here.
* For information on my new book, Essentials of Technical Analysis for Financial Markets (Wiley), please click here. 
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