Gold Lines Up Bullishly On Daily

Further to our previous article, the gold daily chart has turned bullish. The green MA has crossed above the orange MA (blue arrow). Thus, all three MAs are now in bullish formation with green>orange>red. We are now looking for more angle and separation between the MAs. If this does develop, it will be regarded as a bullish development and will denote an increase in the underlying momentum. Given that this is a daily chart, please note that overnight positions are likely to incur rollover (if you trade through FXCM AU these may might be waived).