Saturday, July 24, 2010

Gold Volume (2010-07-24 Gold analysis)



Gold is currently testing both the long-term and short-term pitchforks in daily chart. In last few days it could still hold above both fork. We can see the MACD and EMA are dropping lower and lower and they are giving greater power for gold to surge.

However, it seems that when gold rockets, the volume is not as high as now. Such volume might block the price instead of leading it to rise. Stock markets are getting clearer for bullish and investors might begin to turn to stocks. When the volume for gold decreases, it would be good time to long gold.

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