Thursday, April 30, 2009

Spot Gold -- Daily Trend Parameters



886 - Spot Gold

898 - upper equilibrium price
888 - primary equilibrium price
878 - lower equilibrium price

963 - primary resistance
808 - primary support

prevailing moving averages:

884 - 114 sma
914 - 49 sma
895 - 9 sma
893 - 9 ema

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

summary:

at 886 Spot Gold sits in the middle of the primary equilibrium zone. since yesterday's update the price has dropped below both the 9 sma and 9 ema, indicating a short term downtrend. additionally the ema has dropped below the sma, which indicates that momentum has turned bearish. with the 114 sma just a couple bucks below the current price, any more downside from here would jeopardize the stature of the overall uptrend that started last year. volatility continues to contract as the spread between the medium and longer moving averages narrows. waiting for some fireworks.