Home » Spot Gold Price - Daily News » Gold Trading Analysis 1 April 2010

Gold Trading Analysis 1 April 2010

Spot Gold Price Chart 1 April 2010

From a technical perspective there is very little to say about the daily gold chart which continues to trade in a very narrow range with all three shorter term moving averages now tightly bunched around the $1100 per ounce price handle. To the downside the 200 day moving average continues to provide a cushion against any further reversal and the upside only a break and hold above $1150 per ounce will signal a bullish break out for the spot gold price.  Until then we have to accept that trading will be confined to the present range in what is now a very clearly defined trading channel.  In addition the daily chart is now beginning to form a pennant, again around the $1100 price point, and this may prove to be the focus for any breakout in due course.

What is the best platform for gold trading?  In my view it is Metatrader 4.  Download your free demo copy of the metatrader 4 software by clicking on the following link, download metatrader free, and get started today.

Gold Trading News :

China demand for gold set to double