Chart update gold: The upward trend stands

The price declines of the last few days have not been able to harm the upward trend of the gold price. The steep trend line that has existed since September was reached intraday yesterday, but not violated.

More or less parallel to the trend line, the two averages also continue to rise continuously. It is also pleasing that the 100 is clearly above the 200 for some time.

The Stochastic Indicator, which has been very signal-friendly for some time, jumped to sell a few days ago (blue line crosses red line downwards), but is currently already reaching its deepest regions again, from which a turnaround has usually been initiated.

The trend confirmer also turned downwards, but is still clearly above the
neutral 100.

An end to the downward movement in gold is also likely to be heralded by the Overbought/Oversold indicator – it is already close to the previous lows of the last six months.

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