Gold price has fallen back to January 09 levels as seen in the price action of SPDR Gold Shares.
It is currently in “Warning” phase with the price stuck between its 200 day and 50 day moving average.
In April trading, the price of SPDR Gold Shares bounced off its 200 day moving average twice. It looks set to test it again with a downward sloping 50 day moving average.
For the bears, a good opportunity will be to short gold when it goes below its 200 day moving average. For the bulls, they will be looking at a break away from the 50 day moving average as confirmation of the continuation of the uptrend.
It is currently in “Warning” phase with the price stuck between its 200 day and 50 day moving average.
In April trading, the price of SPDR Gold Shares bounced off its 200 day moving average twice. It looks set to test it again with a downward sloping 50 day moving average.
For the bears, a good opportunity will be to short gold when it goes below its 200 day moving average. For the bulls, they will be looking at a break away from the 50 day moving average as confirmation of the continuation of the uptrend.
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