Gold price hanging in there - for now; trail stops and watch support levels

Actually I cannot give real trading advice but those who are long gold may want to consider trailing stops just in case gold gets quirky and loses support. So far it's still looking good, with its price chart position above daily and weekly Bollinger band levels and also back above certain Fibonacci projections which indicate it should continue moving higher. Only thing, the volumes in GLD (the gold ETF) look a big weak on the recent days' move up. So that's a cloud on the horizon to watch. If gold loses support levels (like $1214 in $GOLD continuous contract, or $118 in GLD, or just the Bollinger Band midline levels), the concern would be rising selling volumes accompanied by bearish indicators. Bearish indicators would include OBV (on balance volume) falling back under its 30-day moving average along with the StockRSI (slow indicator) falling under its midline.

But so far so good ... so just keep an eye on whether it can firm up at these support levels to consolidate for moving yet higher.