Feb 27, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

Technical Outlook Of Gold: Is $1400 A Reasonable Target?

Posted: 27 Feb 2010 07:50 AM PST

Gold switched to a neutral signal on January 29, but it looks as if a new Trend Model buy signal will be generated soon. Below you can see that the price index recently broke out of a descending wedge pattern (as expected for that pattern), then, after a pullback toward the breakpot point, it has begun to move higher. The buy signal will be generated when the 20-EMA moves up through the 50-EMA, something that is very close to happening.

Note also how the PMO (Price Momentum Oscillator), … [visit site to read more]


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