Gold prices (xau/usd) started the week bullish, making new higher lows, and highs. It is trading above its 200-, 100-, and 50-period SMAs in the 4H chart, a sign of bullish bias in this time-frame, and for October in general. However gold is heading into the weekend with early signs of a bearish continuation. After marking a high on the month at 1255.23, gold retreated. It got into the 10/23 session breaking below a rising speedline from about 1205, 10/7 low. It was a strong break as seen in the 4H chart, and price settled in the cluster of SMAs, hovering above the convergence of the 200-, and 100-period SMAs. ... (full story)