Gold: This is not an ugly chart 10/8/2010

Now, little ones, I want to continue your aesthetic education.

This is not an ugly chart. It is not a beautiful chart. But it is not ugly.

Please note.

The chart is above the 13-Day Simple Moving Average. That is not ugly. That is nice.

The MACD has crossed above its signal line. That is not ugly. That is nice.

The W%R is close to 0. That is not ugly. That is nice.

Just what would make this chart beautiful? I'm glad you asked.

1. The 13-Day Simple Moving Average would turn upwards. That would be beautiful.

2. The MACD would be above ZERO. That would be beautiful.

3. The RSI would rise above 50. That would be beautiful.

If all those things come to pass, then this chart would be beautiful.

Here endeth the lesson.

Cheers

Red