http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/http://www.fxstreet.com/technical/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-16.htmlYesterday's gold trading price continued the bullish momentum for spot gold ending the trading session with an up candle but with a deep lower wick suggesting that we should see a stronger move higher in gold prices in the gold term.  Indeed this view is reinforced by several candles over the last few days on the daily gold chart which have all ended the trading session with deep lower wicks which have subsequently found support from the 9 and 14 day moving averages, which is always aWed, 16 Sep 2009 07:32:31 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-16.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-15.htmlAnother interesting day for gold traders yesterday, with spot gold prices once again flirting at the $1000 per ounce level, initially opening gapped up above this price point, but finally ending the gold trading session marginally below.  From a technical perspective yesterday's candle ended with a narrow spread down bar but with a relatively deep lower wick which found support from the 9 day moving average in much the same way as for Thursday's candle last week, suggesting that theTue, 15 Sep 2009 07:18:30 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-15.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-13.v02.htmlA strong week for spot gold prices , with the gold market flirting at the $1000 per ounce level once again, and of course all gold traders and market analysts are now asking themselves whether we are likely to see a failure at this price level once again. Thursday's candle on the daily gold chart certainly hinted at some weakness, ending the gold trading session with a bearish shooting star, which was confirmed on Friday, with the spot gold market closing lower and marginally below the $1000Sun, 13 Sep 2009 12:21:24 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-13.v02.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-13.htmlThis is a classic example of a breakout from a pennant pattern which we had been following in the spot gold market for several weeks, and is covered in more detail on my daily market commentary for the spot gold market. As we can see from the daily gold chart, spot gold prices had been consolidating in an increasingly narrow trading range, forming the pennant pattern as a result which is outlined with the two lines above and below which give the pattern it's name. Such trading is typified bySun, 13 Sep 2009 11:13:08 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-13.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-09.htmlAnother strong day for spot gold prices yesterday which surged higher once again and broke through the psychological $1000 level which arrived sooner than even I expected.  Technically yesterday's candle has a degree of weakness signified by the deep upper wick and whilst this is someway short of a "shooting star" it does perhaps suggest that we are currently seeing the bulls taking some profits off the table whilst the market pauses before deciding to push higher once again.  WithWed, 09 Sep 2009 12:40:44 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-09.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-04.htmlSpeculation surrounding the sudden surge in gold prices continues and summed up the FT's Alphaville Blog simply as "gold madness" for which no one has a good explanation.   Whatever the reasons (fundamental, technical or a blend of the two)  following the breakout from the pennant pattern on the daily gold chart on Wednesday, yesterday's price action simply confirmed the move as expected with a surge higher in gold prices which ended the day on a wide spread up bar, and just failingFri, 04 Sep 2009 07:26:34 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-04.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-03.htmlAs has been discussed in some detail in this gold market commentary the breakout in spot gold prices finally happened yesterday with both force and momentum as spot gold prices closed the gold trading session on a very wide spread up bar which finally broke out of the pennant pattern, and as a result we may now see the start of a serious bullish trend.  Yesterday's surge higher took spot gold prices to near three month highs as risk averse investors turned to the precious metal afterThu, 03 Sep 2009 11:04:03 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-03.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-02.htmlThe gold market continues to tighten into an ever small trading range as the pennant pattern is reinforced still further as each trading day passes, with yesterday's gold trading session being no exception, with the  long legged doji of yesterday confirming this technical pattern in classical fashion. The longer this price action continues then the greater will be the momentum of the breakout on the daily spot gold chart when it does eventually arrive, and any move will no doubt beWed, 02 Sep 2009 08:46:36 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-02.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-01.htmlGold prices finished the month almost exactly where they had started, and ended the gold trading session today with a bearish flavour represented on the daily gold chart with a wide spread down bar but with a deep lower wick thereby giving gold bulls a modicum of comfort.  What is most interesting, however, about yesterday's  gold trading session, is that the price of gold remained well within the pennant envelope outlined in my previous gold commentary, suggesting once again thatTue, 01 Sep 2009 08:41:27 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-09-01.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-31.htmlGold prices ended the week in much the same way as they started, with gold trading in a tight range once again, despite an attempt to break higher early in the trading session, with the close of the week finishing well withing the envelope of the pennant formation which I have indicated on today's gold chart. The point of the pennant seems to be heading towards to the $950 per ounce region, with the high of Friday just breaking the upper boundary of this technical formation. With Labor dayMon, 31 Aug 2009 08:35:30 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-31.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-28.htmlYesterday we saw gold prices break out of their recent consolidation pattern as a result of a weaker dollar, equity market strength and a surge in crude oil prices.   From a technical perspective the gold trading session ended the day on neat little up bar with a deepish lower wick.  The body of the candle broke through both the 9 and 14 day moving averages and the wick perched on the 40 day.  In addition the high of the day managed to pierce the $950 per ounce price handleFri, 28 Aug 2009 10:35:46 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-28.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-27.htmlAnother day of indecision and volatile price moves as the gold market continues to trade in an increasingly narrow consolidation range, and ending the gold trading session with a long legged doji which once again neatly sums up the day - indecisive and lacking any direction. With all three moving averages now tightly bunched there is little in the way of any meaningful analysis from these technical indicators, and until this sideways price action on the gold chart is breached with a breakoutThu, 27 Aug 2009 09:12:44 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-27.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-26.htmlAnother confusing day of trading in the gold market, as gold prices rose in the early part of the trading session, only to fall later in the day, and close below the 9 day and 14 day moving averages once again. As outlined in yesterday's gold market commentary, it is becoming increasingly difficult to forecast the future direction for gold prices, given the thin trading volumes ( particularly in the gold futures market), the lack of news and the general lack of trading due to the summerWed, 26 Aug 2009 08:37:27 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-26.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-24.v02.htmlThe pullback outlined in yesterday's gold trading post arrived today with some force on the daily gold trading chart, ending the trading session with a wide spread down candle which closed below the 9 day and 14 day moving averages, but which seemed to find some support from the 40 day moving average once again. However, today's gold trading price action is concerning for gold bulls for several reasons. Firstly as discussed yesterday, any failure at the $955 price level would indicate that theMon, 24 Aug 2009 22:22:15 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-24.v02.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-24.htmlEven before the end of the  Jackson Hole Symposium at which the world's central bankers expressed cautious optimism on the oulook for the global economy and the view that current ultra low interest rates could be maintained without generating excessive inflation, Friday's gold trading session had already ended the day on a wide spread up bar.   This move reinforced our technical view that gold prices had found some support in the last few days at the 40 day moving average, andMon, 24 Aug 2009 07:59:50 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-24.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-20.htmlA somewhat desultory day for gold trading today which ended the trading session in a tight range bounded between the 9 and 40 day moving averages.  Technically today's candle was similar in many respects to yesterday's with a relatively narrow body and lower shadow although today's was less marked than Wednesday's.  The noticeable similarity between the two is the support that gold prices seem to have found from the 40 day moving average, and despite today's marginal fall in spotThu, 20 Aug 2009 20:05:37 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-20.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-19.htmlIn yesterday's gold trading commentary we pondered on the short term direction for gold prices and reasons for their relative stability given the gyrations elsewhere in the financial markets.  Figures released by the World Gold Council may go some way to explaining what has been happening in the gold trading market.  It appears that world gold demand fell 9% in the second quarter to 719.5 tonnes as rising prices and the impact of the global recession curbed jewellery consumptionWed, 19 Aug 2009 20:27:34 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-19.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-18.v02.htmlWither spot gold prices which during this recent phase of market optimism that has driven global equities more than 50% higher since March, have remained relatively stable.  Gold prices during this period have not really sold off dramatically during periods of elevated risk appetite, nor have they risen strongly through the many bouts of risk aversion.  Meanwhile the dollar sell off since March seems to have had a limited impact on gold trading.  So what will propel spot goldTue, 18 Aug 2009 20:53:48 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-18.v02.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-18.htmlAs spot gold prices continued to slide yesterday I hope you were able to take some profits on the way down as gold trading ended the session on a wide spread down bar which broke below the 40 day moving average closing deep within the support level between the $920 and $938 price band.  Following such a deep move we may see a small reversal tomorrow as bargain hunters come out in force to take advantage of gold's recent reversal.  However, technically spot gold prices now look weakTue, 18 Aug 2009 05:29:33 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-18.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-17.htmlEquity market falls on the back of profit taking and doubts that the recent rally is not based on solid foundations sent many traders and investors back into the US Dollar resulting in gold trading posting a dramatic reversal of fortunes ending the gold trading session on a wide spread down bar giving us a very strong bearish engulfing signal.   This has duly been validated in this morning's trading where gold trading prices have continued to tumble with spot gold currently tradingMon, 17 Aug 2009 12:30:09 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-17.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-14.htmlAs highlighted in yesterday's gold trading commentary gold trading prices reacted positively to a weaker US Dollar which helped push spot gold prices up by $8.08 per ounce to end the gold trading session at $957.15 per ounce.  From a technical perspective the spot gold price ended the day on wide spread up bar closing marginally above the 9 day moving average, a positive signal for gold trading bulls and more significantly well above the resistance in the $952-$955 price band.  WithFri, 14 Aug 2009 10:10:05 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-14.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-13.htmlGold trading yesterday was driven by a weaker US dollar and higher equities as markets responded favourably to the FED statement in which the Committee kept interest rates on hold, kept their options open regarding their bond buying programme and stated that they believed the worst of this current recession/depression was "levelling off", indeed only 10 words changing from their July statement.   The response on the gold chart was a degree of choppy trading which saw gold spot pricesThu, 13 Aug 2009 09:33:46 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-13.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-12.htmlTrading in gold yesterday was characterized by a total lack of participation as the markets wait on the FOMC rate decision, subsequent statement and their affect on the US Dollar.  From a technical perspective this lack of involvement was reflected on the gold chart by a small doji candle which oscillated between the 14 day and 40 day moving average.  Indeed the high of the day found some resistance from the 14 day moving average suggesting that the bearish sentiment remains firmlyWed, 12 Aug 2009 08:29:33 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-12.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-11.htmlSpot gold prices continued to fall yesterday and ended the gold trading session on a wide spread down bar which crossed both the 9 and 14 day moving averages, the move no doubt accelerated by the stops triggered at the $950 per ounce price handle.  The decline was also boosted by a moderate firming of the US Dollar.  Overall spot gold prices fell $9.52 on the day to close at $944.28 per ounce.  From a technical perspective it is the lack of volume which is contributing to theTue, 11 Aug 2009 10:38:37 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-11.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-10.htmlFriday's announcement that European central banks had agreed to reduce their annual sales quota of gold bullion by 20% to 400 tonnes did briefly spark some life into spot gold prices, which managed to reach an inter day high of $963 per ounce before falling back in later trading.   This reduction in the quota appears to be a fresh sign that the "anti gold" attitude of the recent past may be fading away.  The statement from the banks confirmed that gold sales "will be achievedMon, 10 Aug 2009 08:54:03 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-10.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-07.htmlThe effect of today's Farm Payroll Data cannot be underestimated for several reasons and proving once and for all the cat's cradle that is the financial markets.  Should the numbers come in better than expected then this will prove beneficial for equities as the market has proof positive that the worst is definitely over and the recent rally has been founded on solid fact rather than sentiment and wishful thinking.  This would also confirm that the worst of the downturn in theFri, 07 Aug 2009 11:09:16 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-07.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-06.htmlAlthough most gold analysts expect spot gold prices to hit the $1000 per ounce mark at some point this is certainly not a given, and despite the bullish sentiment in place on the gold chart technically we are now approaching a pivotal point which will dictate whether this target or postponed, once again.  Gold prices took a breather yesterday with the candle closing the session marginally lower but with a deep lower wick suggesting that we could see a push higher in due course, a viewThu, 06 Aug 2009 08:42:19 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-06.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-05.htmlSpot gold prices (much like crude oil prices) shrugged off  their own market fundamentals of weak demand and lack of volume in gold future by ending the day on a wide spread up bar closing well above all three moving averages which are now pointing firmly higher.  This apparent disconnect between the fundamental and technical picture is characteristic of thin trading volumes coupled with random during the summer lull, making trading extremely tricky.  With spot gold prices nowWed, 05 Aug 2009 09:03:42 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-05.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-04.htmlYesterday's price action on the daily gold chart came as no great surprise following the strong upwards surge on Friday, and ended the trading session as a long legged doji suggesting that we may see a short term pullback in the price of spot gold before any push higher once again.  My primary concern, however, remains the futures volumes (or rather the lack of) which has now collapsed to yesterday's figure of just over 2k contracts on Comex, a fraction of the normal trading volume. Tue, 04 Aug 2009 11:16:50 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-04.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-03.htmlFriday's wide spread up bar on the daily gold chart came as a complete surprise and to be blunt was totally unexpected and impossible to predict as the technical picture was one of a bearish reversal following last Tuesday's signal and the consequent deeper move below all three moving averages.  The driver for this sudden surge in gold prices was based on two broad factors: first continuing and chronic dollar weakness as traders and investors continue to regain their appetite for riskierMon, 03 Aug 2009 10:12:20 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-08-03.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-31.htmlFollowing the two steep falls in gold prices on Tuesday and Wednesday, yesterday's up candle provided some relief for gold bulls, ending the session with a narrow spread up bar, which closed the trading session marginally below the 40 day moving average, where the high of the day seemed to find some resistance to any move higher.  Coupled with this, spot gold prices are now below a congested area of consolidation which will take a considerable amount of effort to penetrate, if the lossesFri, 31 Jul 2009 08:46:56 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-31.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-30.htmlYesterday's wide spread down bar for spot gold prices, merely served to reinforce the bearish engulfing candle of Tuesday on the daily gold chart, and ended the trading session at $927.20 per ounce, closing well below all three moving averages. The strength and depth of this reversal will really be defined in the next few days, with the various support levels playing a pivitol role, the first of which is now on the horzion at $925.  Should this minor level fail to hold then we could see aThu, 30 Jul 2009 06:41:05 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-30.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-29.htmlWithout wishing to sound too pleased with myself, it is always nice to be proved right once in a while, and as I wrote in yesterday's market commentary for spot gold we were right to be cautious in our trading, as the weakness suggested on the go ld chart of the last few days finally arrived with a vengeance. Following  6 days of indecisive candles on the daily gold chart, the signals were not encouraging and yesterday the inherent weakness in the price of gold was duly confirmed with aWed, 29 Jul 2009 07:57:44 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-29.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-28.htmlAccording to the World Gold Council India may soon lose its status as the world's largest gold consumer later this year to China which is showing an ever increasing demand for jewellery.  The Indian gold market has been hit by a weaker Rupee, which has put up the cost of owning gold bullion, taxation and a fall off in demand for jewellery.  Gold trading on Monday saw gold futures for August rise $3 or 0.3% an ounce pushing spot gold prices as high as $960 per ounce, last seen on JuneTue, 28 Jul 2009 07:18:54 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-28.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-27.htmlFriday's candle for spot gold prices ended the trading session ahead of the weekend, with yet another doji, making this four in a row, and setting up an interesting start to the week. With such indecision on the daily gold price chart, we would be wise to be cautious in our trading in the next few days, as this could be the signal to a move lower in the short term, with all four candles having failed to break and hold above the $955 per ounce level. The resistance at this level created in lateMon, 27 Jul 2009 06:49:05 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-27.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-24.htmlYesterday's candle on the daily spot gold price chart, ended the trading session with a bearish 'shooting star' signal, suggesting once again that gold prices are now struggling to move higher from this level, which is an increasingly worrying sign.  For the fourth time in a row, gold prices attempted to move higher during the day, only to fail at the $955 - $957 price point, with the shooting star of yesterday being the clearest indication yet, that the resistance in place at this levelFri, 24 Jul 2009 10:34:02 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-24.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-23.htmlWith Ben Bernanke's two day testimony now complete the markets can begin to absorb his comments, which were broadly in line with expectations, and did nothing to spook equities, commodities, bonds or currency, which will no doubt settle back into the summer lull. The daily gold chart was typical of many others, ending the day with a narrow spread doji candle and closing the trading session marginally higher. Whilst the bullish tone seems to be well established for gold prices at present, weThu, 23 Jul 2009 10:41:41 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-23.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-22.htmlYesterday's trading in spot gold prices was characterised by indecision and uncertainty, as the broader markets absorbed the comments from FED Chairman Ben Bernanke during the first of his two day testimony on the US economy and proposed fiscal and economic policy moving forward.  As a result the daily gold chart closed with a long legged doji, with closing price closing the session where it opened, and marginally below the $950 dollar per ounce level. From a technical perspective this isWed, 22 Jul 2009 09:28:50 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-22.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-21.htmlYesterday's candle on the spot gold price chart, provides us with several interesting points to consider for our daily analysis of the spot gold market today, and one which may indicate the direction for gold prices in the next few weeks. The first point to note is that the candle finished the trading session with a wide spread up bar, which closed above the 40 day moving average, suggesting that the bullish tone is now firmly established once again, following the short term reversal of June.Tue, 21 Jul 2009 10:28:55 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-21.htmlhttp://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-20.htmlFriday's candle on the daily gold chart, provided further evidence of indecision and a lack of market direction as traders withdrew from the market ahead of the weekend. With thin trading volume and little in the way of fundamental news, the price of gold drifted for much of the day, ending the session with a classic doji candle, with wicks to top and bottom and the open and closing prices identical. The high of the session seemed to find some resistance from the 40 day moving average, andMon, 20 Jul 2009 12:34:26 GMThttp://www.fxstreet.com/technical/forex-strategy/anna@trading-online-help.com (Master The Markets)http://www.fxstreet.com/technical/forex-strategy/spot-gold-prices/2009-07-20.html