GLD - Chart Link- down again today, also at the
highs in early Aug gold was 1.26 times or above its 200 day MA,
when looking at the past that was at extreme levels. Also generally
when that happens you have a longer consolidation to revert back to
the mean. That also kept me grounded and not buying the dip in
gold.
I like seeing the move down, it's needed, hell I'd love it to
come near the 200 day MA would be a good area to start scaling in,
not sure if it makes it down that far though, we'll see...
Posted by chartboy on 23rd of Sep 2020 at 09:54 am
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Gold comments
Posted by matt on 23rd of Sep 2020 at 09:53 am
GLD - Chart Link- down again today, also at the highs in early Aug gold was 1.26 times or above its 200 day MA, when looking at the past that was at extreme levels. Also generally when that happens you have a longer consolidation to revert back to the mean. That also kept me grounded and not buying the dip in gold.
I like seeing the move down, it's needed, hell I'd love it to come near the 200 day MA would be a good area to start scaling in, not sure if it makes it down that far though, we'll see...
Posted by chartboy on 23rd of Sep 2020 at 09:54 am