Gold on Monthly Chart
Gold on Monthly Chart: Gold Prices on monthly chart is trading above 51 SMA but at the same time, prices are unable to cross 71.25 angle from the key low made in October, 2008. So prices reversal is quite possible, however short position may be initiated only when the prices on daily chart closes below $1322.72.
Prices until crosses of $1398, it may reversed very fast and may touch once again $1222.
