Saturday, February 9, 2013

DailyMarkets.com - Gold Showing EMA Compression With Targets

DailyMarkets.com - Gold Showing EMA Compression With Targets

Gold Showing EMA Compression With Targets

Posted: 09 Feb 2013 10:34 AM PST

I'm a big fan of so-called "EMA Compression" patterns because they often set-up breakout opportunities from clear reference levels.
Let's take a look at the Daily Chart "EMA Compression" pattern in gold and what levels are important in the near future.

The main idea here is to recognize the price compression or consolidation between the falling 50d EMA (which has held as resistance since December) and the flat 200 day SMA.
The current falling 50 day EMA rests at $1,680 while the … [visit DailyMarkets.com to read more] or compare Credit Card Rewards or Best Credit Cards
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