Sunday, 13 September 2015

Gold rallying from weekly chart trend channel support?

Weekly chart shows that in late July Gold began a rally from trend channel support. Previous rallies from the nearby trend line have been good for 200, give or take. Why expect anything different this time?

Daily chart. A rally above the 40 day moving average could signal a resumption of the up trend from July's low.

4 hour chart shows the wave structure is bullish.