Gold Just Broke Through A Technical Level It Hasn't Seen Since 2001

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		Home Tech Finance Markets Politics Strategy Entertainment Advertising Retail Sports Life Monday, April 15, 2013 Gold Just Broke Through A Technical Level It Hasn't Seen Since 2001 You'll hear adherents of technical analysis talk a lot about the 200-day moving average. When the price of a financial asset – like gold, for example – falls below its average price over the last 200 days, it indicates increasingly bearish sentiment toward the asset. The gold price actually dropped below its 200-day moving average back in early February, when it was trading around $1667 an ounce. Today, as Stifel Nicolaus strategist Dave Lutz points out, gold has also broken below its 200-week moving average, which currently hovers around $1435. The price of gold hasn't been below its 200-week moving average since 2001. It's not necessarily a critical level that a lot of traders are watching, but it does illustrate just how bearish sentiment toward the shiny yellow metal has become in recent days. Read » Also On Money Game Today: Stocks Tank In After-Hours Trading NEW LOWS: GOLD $1335 Advertisement CHART OF THE DAY: The Bear Market In Gold Has Officially Begun CHART OF THE DAY: China Is No Longer A Low-Cost Producer CHART OF THE DAY: The Japanese Bond Selloff That Everyone Is Talking About Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.jobhuntportal11@blogger.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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