Chart of the Day – Gold: Sideways for Awhile?

Jon Gold, Market Commentary, Precious Metals

In my last chart of the day I noted that gold and the metals sector in general were too stretched above the 200 DMA and would likely have to churn for awhile before the next leg up could begin. After seeing the sell off following Friday’s employment number I think I probably called that one correctly. The metals may have to churn sideways for most of August before the next rally begins.

This post was published at GoldSeek on Sunday, 7 August 2016.