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
No comments:
Post a Comment
Commented on MasterMetals