GOLD pullback to the weekly 200 SMA

FX:XAUUSD   Gold / U.S. Dollar
245 3 4
Gold             is in a long term bear market that started in 2011. The 200 Weekly SMA shows the current market trend, and GOLD             is doing nothing but a pullback to that moving average. This is exactly the same that happened in 2008, but that time it was a pullback in a bull market.
simple and clear
I think the conclusion has to be:
1. There is still a chance that Gold remains in a bear market but it is attacking the weekly 200SMA quite aggressively. Once this average is cleared it´s another signal confirming the new bull.
2. If Gold is in a new bull market it will take some time (at least weeks probably months) to sustainably move back above the 200 weekly SMA (see spring 2013 + 2001) and it also will take much more time until this average is turning up again (2017 ?).
So Gold will not skyrocket now. It will consolidate around and below $1,350 for some weeks at least and once it has cleared $1,350 it will run towards $1,500/$1,530 where a multi month pullback should start and pause the new bull market for at least a couple of months maybe even a year... the parabolic super bull phase is still years away...
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out