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Chart of the Day - Gold and its 200 Week Moving Average


 -- Published: Wednesday, 22 June 2016 | Print  | Disqus 

By: Gary Savage

Gold and its 200 Week Moving Average

I think we can safely assume the Brexit vote is going to fail. This should be bullish for stocks and bearish for the dollar. A falling dollar should be good for gold. However, with stocks and oil moving higher itís likely to take some focus off gold.

200 week moving average

Iím expecting the metals to be volatile for a couple of weeks as they build up the energy to break through the 200 week moving average. I do think gold will ultimately break through once the market recognizes the dollar is in trouble.

- Gary Savage


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 -- Published: Wednesday, 22 June 2016 | E-Mail  | Print  | Source: GoldSeek.com

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