Traders Daily: This Hasn’t Happened to Gold since 2016

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The last time this happened, gold sank from $1,306 to a low of about $1,125.

Nowadays, at the same price of $1,306, it’s happening yet again, and analysts are fearful it could pinpoint to further downside for the meal.

If you look closely at this chart, you’ll see what happened when the 50-day moving average crossed below the 200-day moving average in November 2016.  Nowadays, it’s happening again with a slight crossover today.

 

In short, we’re seeing what technician refer ...

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