Further to our previous article, the gold daily chart has turned bullish . The green MA has crossed above the orange MA (blue arrow). Thus, all three MAs are now in bullish formation with green>orange>red. We are now looking for more angle and separation between the MAs. If this does develop, it will be regarded as a bullish development and will denote an increase in the underlying momentum. Given that this is a daily chart , please note that overnight positions are likely to incur rollover (if you trade through FXCM AU these may might be waived).