Last Update: 5.14.13
(At Open) Entered Bullish Positions @ $78.62
It looks like we have possible inverted H&S formation happening here though it is early to say that for sure. Today’s objective is to stay alive and close above 10EMA but ultimately $GOLD needs to close above 50EMA which is hasn’t done that since last November of 2012.
(After Close) Finished Strong but..
..50EMA to watch out tomorrow. It must break above 50EMA to continue its bullish rally because 50 is still working with Team Bear.
Stopped Out @ $75.30
Looks like gap filling spree happening here. Bulls need to at least keep the $72-$73 gap open otherwise, bears could take this thing over again.