(Kitco News) – December Comex gold futures charged into early morning action Monday with a firm bid. Action over the last two weeks has shown the bulls are in charge of the near term trend. A “V” type of bottom has formed on the daily chart in the wake of the strong October 6 “bullish reversal” day. Also, the gold market is trading above its 20-day and 40-day moving averages, which is a positive technical signal. See Figure 1 below.
