I mused yesterday that we had been hugging the four hour 200 ma and the catalyst of Mr Bernanke with his Epsom printer and the ongoing European turmoil has seen us break the level and surge higher. We have a double bottom in at $1600 and there’s not much to suggest we’ll be visiting that anytime soon. On the tech side we have the the 55 dma up at $1632 while above there is the top downward trend line. I’ve spoken previously that the Gold charts are a thing of beauty tech wise, and long may it continue.
Update: The market is looking at $1620 to break for a more concerted move higher. Don’t know if there are any orders against that level but it could be one to watch.