Charts indicate that 12- and 36-month long term moving averages do act as support and have some charting value.
Follow Gold price action as we look at its weekly performance, market sentiment. Also I propose 1 red line that may explain gold movement.
Gold market sentiment now is better than we can see in the past 4 months. It is too early to call gold bottom but signs bulls in control.
Price now > open price, market sentiment is bullish. Price now < open price, market sentiment bearish. Gold now bullish but Silver not.
When experts and leaders are split over the value of silver and gold, there is one place for a gold investor to turn: technical analysis.
I am looking for clues from gold technical analysis to determine if the precious metal is reversing. At moment, bulls should not expect much.