gold chart - hourly

Refer chart below Gold USD - the gold is price behaving itself for the short term. Has retraced to the 50% fib level of the 03Dec09 high ($1227) and the 22Dec09 low ($1075).

Resumed a steady trend upwards ... cutom indicators presently suggesting a long position on MACD and Aroons. If green aroon crosses up above red it show a longer term trend.

Note classic MACD divergences on 22Dec low.

Gold has a long way to go yet .... added more while at $1080 and plan to accumulate further if there are any more lows in the $1000 range.

rgds,
pw