Monday, February 9, 2009

Moving Average Study of Gold: simple stuff

I get easily overwhelmed with data points and indicators when looking at charts, in hopes of unlocking a magical method of telling the future.
It doesnt exist, so in the meantime I use good old fashioned moving average studies to take a top-down look at gold and consider what they are telling me. Short term I cant say, I mean everything points to a downward push for a few days or weeks considering how far and how fast gold has risen. But beyond that, looking at the real meat of any potential moves in gold, this chart gives me all I need to feel good about gold's prospects going forward.



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