Tuesday, May 5, 2009

Gold trend

Look how gold has used the 20 month(yellow line) moving average as support, for the past several years. The only time it dipped below the 20 month moving average was last fall, when the financial markets blow up. It now is back above the 20 month, after making a double top at $1,000. Use a close below $860 (the 20 month) as your stop, if your long.