Forecast - 2013 05 04

Gold has been going all the way down.
But I think it's already touch the limit and trying to bounce back up a little bit.
I see some good reasons to go Long from daily chart above:

1. A big possibility of forming the Morning Star pattern (doji)
2. RSI and William Percent Range, both are already in extreme oversold area and beginning to move up.
3. A good Reward - Risk ratio.
4. Current price is already around the support area.

Of course, as usual, use proper money management.

Good luck and have a nice trading.

GG - 2012 04 05