Sunday, December 13, 2009

Gold 50 dma

Gold has fallen almost 10% in 8 days. The 50 day moving average(blue line) is very close at 1104 on the Feb 2010 futures. I think gold will find support there this week, and bounce back up to the Mpp or 20 dma(yellow line). If not, watch 1093(Ws1) or 1085(MS1).