Gold Technical charts after worst Sell Off in 30 years

By | April 16, 2013
15 April is the largest one day decline from the previous day’s close @ -9.6%. Volume is already north of 530,000
There have been three rounds of liquidations.
  1.  Asian liquidation
  2. European liquidation
  3. US liquidation phase . You are witnessing an historical selling climax folks.
  4. Another trigger for selling is CME Hikes Gold, Silver Margins By 18.5%

RSI shows gold to be the most oversold in 31 years…

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Gold pushes down to the 50% retracement of the 2008-2012 swing low-to-high which comes to 1300 As of now low is 1325

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Gold broke its 200 Weekly DMA after 10 years which is bearish signal

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What Happened The Last Time We Saw Gold Drop Like This?

 

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Gold has 3 sell off in 2008,2011 and 2013. Stocks followed the Gold after some time as shown in S&P Charts.

 

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