Gold Stages Key Bullish Technical Reversal

On Thursday gold staged a bullish ‘outside day.’ In traditional technical analysis, an outside day is traced when the low of the day is lower than the previous day’s low and the high of the day is higher than the previous day’s high. Candlestick or OHLC chart displays make it easy to see. In the context of where it occurred on the chart, this is a bullish key technical reversal in gold.

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Update 24 May 2013: Gold had a big breakdown dropping 20% in the first 5 months of 2013