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Gold: Off to the Races, or Just Another False Start? [Chart]
news.goldseek.com / Visual Capitalist / Friday, 16 October 2015
Commodity traders know that gold is highly cyclical, and that it takes significant changes in the fundamentals and sentiment to change the long-term price trend. That said, the latest news on gold is cautiously optimistic for those waiting for a rebound in the precious metal. Over the last few days, gold has broken through its 200-day moving average to reach its highest price in three months at just short of $1,200 per oz.
This type of technical breakthrough is rare: over the last six years, gold has touched its 200-day moving average on the upswing six different times. Each time gold emerged from these technical circumstances, the downward momentum of the gold price would remain unaffected.
The post Gold: Off to the Races, or Just Another False Start? [Chart] appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/10/17/gold-off-to-the-races-or-just-another-false-start-chart/
