GOLD Daily Chart; Death Cross

Gold prints a death cross with the 50-day MA stabbing down through the 200-day MA forecasting trouble ahead for the shiny metal. Typically, however, price bounces once the death cross forms. The RSI and stoch's are oversold and agreeable to a bounce. The stochastics and histogram are positively diverged wanting price to bounce in this daily time frame.

The MACD line and money flow are weak and bleak. Thus, gold will likely bounce for a day or so, but then roll back over and print lower lows for the couple days or so after that. At that point in time, a bottom will likely occur for gold in this daily time frame and price will stage a relief rally. The gold weekly chart points to more weakness ahead so the bounce will likely be short-lived say a few days or week or two. If the 50 remains under the 200, gold will remain sick going forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.