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Re: Gold/DX Chart/Lee
In Response To: Re: Gold/DX Chart/Trades ()

Well it is a chart of Gold priced in the U.S.$ Index which is a basket of currencies. What it is suggesting is that Gold hasn't fallen since late October but is just bouncing off it's last support level and consolidating. Some would say its the real price of Gold in a world currency rather than just in U.S.$ that have been falling since Dec compared to other currencies. So according to this chart no damage has been done to Gold.....yet. And the long term uptrendline from the major low in Oct/08 is still intact and price has continued to make higher highs and higher lows with the major moving averages continuing to rise. Nothing much bearish yet to view. A much more bullish chart than Gold priced in U.S.$ that have been falling of late.

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Re: Gold/DX Chart/Lee