I know it is immature to say anything confirmed now.
On the weekly chart, Gold confirmed its fresh bullish trend on 19 Dec 2008, when it closed at $838.28. It peaked to 1235.1, a month back. Now it is showing symptoms of a reversal.
At present it is trading at 1192.
A close below 1189 by this Friday can be considered a trend reversal, which started on 19 Dec 2008. As you can see, it is too close to this level now.
Fresh add to positions signals were seen on 25 May 2009, 10 Aug 2009 and 12 Apr 2010.
We will see how it closes by this Friday, and I will update accordingly. So keep watching.
