Web Statistics Gold Weekly Chart - Perking Up

Monday, 12 August 2013

Gold Weekly Chart - Perking Up

Gold Weekly Chart - Perking Up

Taking a look at the weekly gold chart, there seems to be a lot of strength at the moment. Technically things look to be strengthening up a bit after a big correction.

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As you can see, there is divergence in the indicators, and we have broken out of a downwards channel that formed early this year, so a move outside this channel is quite significant. Hopefully it can hold. A move above 1365 would be even more positive and cause more buyers sitting on the sidelines to move in we think.

Gold

gold weekly chart

Gold Weekly Chart

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