Gold stretched quite far above the 200 week moving average. It needed to regress back to the mean and is often the case with human emotions, we tend to overshoot.
Charts of the day: Gold
November 11, 2015 02:21 PM
About the Author
Gary Savage started SmartMoneyTracker in 2007 right before the bear market began, and called the top in Nov. 2007. Cycles and sentiment are his two primary analysis tools. In his teens, he was a national Judo champion. He was a national weightlifting champion at 26, and by 39 he was a world weightlifting champion and world record holder. An entrepeneur his entire life, he has multiple businesses in addition to SmartMoneyTracker.