Wednesday, April 29, 2009

Spot Gold -- Daily Trend Parameters

Spot Gold -- Daily Trend Parameters

896 - Spot Gold

900 - upper equilibrium price
888 - primary equilibrium price
876 - lower equilibrium price

964 - primary resistance
807 - primary support

prevailing moving averages:

883 - 114 sma
916 - 49 sma
893 - 9 sma
896 - 9 ema

8/28/09 - primary inflection date
18 - weeks to inflection date

summary:

at 896 Spot Gold sits at the upper end of the primary equilibrium zone. price above 9 sma indicates minor uptrend. 9 ema above 9 sma indicates upward momentum prevails in the short term, though this would be called into question if the price slips below 9 ema. the price above the primary sma (114), below the secondary sma (49), right near the short sma (9) and within the lateral equilibrium zone together indicate an indecisive market. expect a forceful move toward primary support or resistance (which is unclear) once this stalemate is broken.