This is a very important alert on what to expect next for the price of gold after yesterday’s plunge ended one of gold’s longest streaks in 4 decades.
October 1 (King World News) – Jason Goepfert at SentimenTrader: “For the first time in more than four months, gold fell below its 50-day moving average, ending its 8th-longest streak above that average. It also comes relatively soon after gold had reached a 52- week high. Similar action led to further short-term selling, but long- term gains.
Gold hasn’t been able to catch much of a break. Risk has been building for a while, then the market broke early in September. That kind of behavior has a tendency to lead to even more selling pressure, and so far it’s been following through.
Now the metal has busted below its 50-day average for the first time in more than four months. (See chart below).
Over the past 45 years, it’s been rare to see gold go this long above its moving average, even during the big momentum runs in the late 1970s and early 2000s…
To listen to billionaire Eric Sprott discuss his prediction for skyrocketing silver
as well as his top silver pick CLICK HERE OR BELOW:
Below, we can see that the end of the current streak at 87 days above its 50-day average ranks among the longest in over four decades.
The End Of A Historic Run
This Trading Action Only Happens During Long-Term Bull Markets
Displays of extreme momentum, however, often signify some fundamental or structural change in a market. When buyers were interested enough in gold to sustain it above its moving average for months at a time, it occurred almost exclusively during long-term bull markets. So, returns over the next 6-12 months were impressive. (See chart and table below).
Gold’s 6-12 Month Returns (After The End Of Historic Runs) Have Been Extremely Impressive Averaging Nearly 30% Gains For Gold 12 Months Later!
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Important Update After Yesterday’s Carnage In Gold & Miners
READ THIS NEXT! ALERT: Important Update After Yesterday’s Carnage In Gold, Silver & Mining Shares CLICK HERE TO READ
JUST RELEASED! Gerald Celente tells KWN listeners around the globe exactly where he believes the decline in gold will end before it skyrockets through $2,000 and much more and you can listen to his powerful audio interview by CLICKING HERE OR ON THE IMAGE BELOW.
More articles to follow…
Here Is The Perfect Thing To Read On A Day Where Gold & Silver Are Tumbling CLICK HERE TO READ
Greyerz – Global Financial System Unlikely To Survive, But Own Gold, Not Cryptos Or ETFs CLICK HERE TO READ
$1,800 Gold, Cranking Up The Liquidity, Plus When The Bubble Pops CLICK HERE TO READ
Celente – Where The Decline In Gold Will Stop, Plus How To Prepare For What Is Coming CLICK HERE TO READ
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