Gold showing a rare & bearish MA pattern
Gold has a unique pattern in its daily Moving Averages
20 & 50 daily MA's are encapsulated within the 100 and 200, the short term ones are pointing down and they are all relatively equidistant. From what I can see this has only really happened a few times.
April 1996 and it signaled a 3 year bear market with a 35% slide
Happened twice in 2011 and 2013 after gold had peaked. The first example set up sideways price action and the second setup a drop of 28% 6 months later.
2018 less of a clear signal but price was 7% lower 9months later
May 2008 price dropped 20% six months later
Dec 1980 set up a year and a half long slide of nearly 50%
Also in every single case this daily MA pattern preceded a bearish weekly crossover by a couple months
1980
1996
2008
2011/12
2018
I'm not short gold here. Certainly the price action could change. But that pattern does seem to have a historic signal into a bear market. I will watch for the 20MA to cross the 200 on th daily.
20 & 50 daily MA's are encapsulated within the 100 and 200, the short term ones are pointing down and they are all relatively equidistant. From what I can see this has only really happened a few times.
April 1996 and it signaled a 3 year bear market with a 35% slide
Happened twice in 2011 and 2013 after gold had peaked. The first example set up sideways price action and the second setup a drop of 28% 6 months later.
2018 less of a clear signal but price was 7% lower 9months later
May 2008 price dropped 20% six months later
Dec 1980 set up a year and a half long slide of nearly 50%
Also in every single case this daily MA pattern preceded a bearish weekly crossover by a couple months
1980
1996
2008
2011/12
2018
I'm not short gold here. Certainly the price action could change. But that pattern does seem to have a historic signal into a bear market. I will watch for the 20MA to cross the 200 on th daily.
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