Gold is still in a strong uptrend (A). Along the way, prices have consolidated in downward sloping pennant patterns (B, C and D) -- all standard trading developments. However, notice the 10 day EMA is now moving lower (E) and the MACD has given a sell signal. Also note that prices are now through the 10 and 20 day EMA In short, this is beginning to look like a correction.
