Gold Trades at Most Oversold Levels on Record M
Post# of 579
Posted On: 04/15/2013 12:32:40 PM
Gold Trades at Most Oversold Levels on Record
Monday, April 15, 2013 at 11:39AM
The price of gold is currently trading more than 4.5 standard deviations below its 50-day moving average, which clocks in at the most oversold reading since at least 1975. The chart below shows the daily overbought/oversold reading for gold based on the number of standard deviations it traded above or below its 50-day moving average. As shown, there have not been very many occurrences where the commodity traded more than 3.5 standard deviations below its 50-day moving average. In fact, there have only been ten.
(0)
(0)Scroll down for more posts ▼