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July 21, 2015

#Gold stocks trading 30% below 200 day MA

From Shortsideoflong

Remarkably, 76% of the index posted 52 week new lows. Moreover, as we can see in the chart below, Gold & Silver mining index is currently trading 30% below its 200 day moving average. When we take into consideration all of the above, such kind of a selling pressure has only occurred a handful of times over the last two decades, and usually signals we are close to the selling exhuastion.

Chart Of The Day: Gold miners are currently trading 30% away from its 200 MA!

Source: Short Side Of Long


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