Wednesday, November 25, 2009

Gold Hits New High

Click for a larger image

A.) In September and October, prices rose in a gentler manner. They'd hit a high and the round out the action. This allowed the market to absorb the gains.

B.) So far this month, gold is simply screaming higher.

C.) The RSI is telling us prices are a bit overbought, but

D.) The MACD is saying there is plenty of momentum and

E.) The A/D line is telling us people are still moving into the market.

Also note the EMA situation: the shorter EMAs are above the longer EMAs, all the EMAs are moving higher and prices are above all the EMAs.

This is still a very bullish chart.