Gold has been trading on both sides of the ascending median line. The market crossed above the median line during today’s session and is once again trading on the strong side of this momentum line. The price action is suggesting the market has built up enough energy to continue the upward trend and move toward the upper parallel line. This scenario is also supported by the five-wave continuation pattern that unfolded between March 2, 2011 and March 15, 2011. This type of continuation pattern typically marks the center of a longer-term trend. I will have updated information on this swing trading opportunity in the next issue of the TMV Swing Trading Report.
