Week of December 10: Gold Bottom Update

This is an update on the gold bottom I identified on December 4. December 4, 2013 Gold Post. So far it continues to act like a bottom. Here is the chart: As you can see from the chart above, price has moved above the moving average resistance (the red green and blue lines). The 13 period exponential moving average has turned upwards along with the MACD turning positive. The Williams has also turned upwards. This is indicative of a present uptrend in GLD off that bottom. The next step in the bullish trend is to watch for the moving averages to cross with the 8 being above the 13 and the 13 above the 21. There is always a bull path and a bear path and we cannot know what path our time will choose to take. As always, do your own due diligence, read the disclaimer, and make your own decisions. I will update the NZDUSD, AUDCAD, Equities, and the next USDJPY move in the future. Have a great week! Peace, Om, SoulJester.