Gold Closes Under 55-Day SMA, Outlook Slips

Discussion in 'Technical Analysis' started by Kaitlin, May 24, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
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    Over four trading days through Monday of this week the precious metal has fallen by about 2.5% of its value and the sell-off continues to take place today. By closing below the major 55-day SMA, currently at 1,249.52, gold puts its near-term outlook at a substantial negative risk. We see[​IMG]

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