chartwatchers
Long

GOLD- The importance of 50 EMA

FX:XAUUSD   Gold / U.S. Dollar
281 0 14
I didn't like yesterday's action in gold             .
I was waiting the price to run new highs above 1280.
While the 50 EMA is holding and 10&20 EMA is not crossing over it' still bullish .
50 EMA was a supprt in the pennant all the way long.

For a run to 1310.47 we would need a USD weakening...
.. and we need the the bears with their short coverings while they are trying to catch the top of this rally.
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