Monday, 5 May 2014

Gold daily chart bearish edge setting up

Daily chart shows that for the past 18 months or so, moves by Gold below a declining 40 day moving average have far more often than not lead to further declines. With the market having rallied up through the 40, it is time to look for the same bearish edge to be triggered again, on a  move below 1300. Simple things... they don't always work,of course,  but at least when they don't work you have no excuses for not cutting your losses.