When major trend changes are underway (for any asset), you will likely see the price chop quite a bit as buyers and sellers battle for control. Again, looking back at 2008, gold was constantly breaking above then breaking down below its 150 dma before finally resolving to the upside later in the year. Compare that to what we're seeing now in gold. In February 2014, gold blasted through the 150 dma only to be sold back down immediately. Then, over the ensuing weeks, it has continuously chopped above and below the line.
In mid-June gold broke decisively above its 150 dma on strong volume. While positive in its own right, that's not the most encouraging aspect of this chart. What's most encouraging to me is that gold has not only stayed above this line for the last month, but now is using it as support. The longer gold stays above its 150 dma, the more likely it has reversed its multi-year downtrend.