Gold 20/50 Day Average Bearish Cross
Prepared by Jamie Saettele, CMT
In general, the series of lower lows and lower highs since the 2/29 mini crash may be the beginning of a larger decline. The 20 day average crossed below the 50 today. Still, strategy remains unchanged; “Use Wednesday’s large range bar extremes (high and low) as points of reference to determine a bias. In other words, turn bullish on a break of Wednesday’s high and bearish on a break of Wednesday’s low.”
Bottom Line (next 5 days) – ?
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