40 ema comex $gold futures

http://stockcharts.com/def/servlet/SC.web?c=$GOLD,uu[d,a]whclyyay[d19990713,20021227][pc40!f][vc60][iLk15]&pref=G

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A supportive 40 EMA appears to be underlying COMEX $Gold futures to date for the broad upsweep since March last year. Williams %R 15 , has also been encouraging.

However assuming the parabola does not end now, a fall back to this 40 EMA briefly, to rebuild strength would not in itself necessarily signal directional failure perhaps, before a prospective tilt higher at $US370-385, say March/April/May next year. Intruiging to contemplate.