Friday, May 1, 2009

MOVING AVERAGES FOR 5/1/09


Gold price is below all the MAs except the 200 day MA
A bearish condition, IF it continues to fall.
But...remember that markets seek equilibrium, so
gold wants to rise towards those MAs that it is
beneath, but also is being pulled lower by the 200 day MA
that it is above. Somewhere is the point of equilibrium
at any point in time (which is constantly changing)