Key Inflection Level in Spot Gold?

Gold back at 6-month highs after Bank of Japan stimulus -

Looking at the daily chart we can see that Spot Gold (XAU/USD) is trading right at resistance of the major downtrend line and also that MACD is close to the zero line.

Chart courtesy of Oanda

http://www.traderslog.com/wp-content...auusd91912.jpg

I think your chart needs a bit of tweaking Danny - looks to me as though we are already above what you call the "major downtrend line" - though I would reckon that was the one from the Sept high that has been breached and retested. Also your 50 and 200 days averages seem a bit out....

Why not join the existing thread with 20,000 + messages...

beeb

Yea, good point/s

Prior resistance formed some nice support from that Sept downtrend line!

Not sure why my moving average differs from yours, both the SMA and EMA's (50 and 200) on Oanda's charts are different from what you have.

(Henceforth I'll post on the proper thread!)

I don't know what oanda is - I guess it's some free MT4 software.

Basically you get what you pay for

beeb