Gold in Death Cross Pattern

[move_zig]

The 50-day moving average passed the 200-day moving average in a downward trend. This has happened three times in the last few years, each time leading to 8-to-16% price decreases.

I don't hold any gold right now. I think the price has been artificially held high since the housing bust as rich people moved out of real estate and into the "next thing".

Gold has many of the same qualities of bitcoin, but it's not magical. I think bitcoin is the way forward.

[Domrada]

Today the fibonacci oscillator reached parity with the 200 day moving average which could be bad for gold. Coupled with the price of wheat and the yield curve for japanese bonds, the downswing in the exponential indifference indicator could be very good for bitcoin.  We could see a 30% increase before the end of the year, if pork bellies go sideways, unless of course market sentiment precipitates profit-taking in which case the fibonacci oscillator could take a plunge and bitcoin will rise over 50%. Buy bitcoin.  

[Aahzman]

But my flux capacitor produced 1.2jiggawatts of bitcoin extrapolation data saying that bitcoin would hit $100USD at 2:17PM Central Time tomorrow!!!!

[greyhawk]

But my flux capacitor produced 1.2jiggawatts of bitcoin extrapolation data saying that bitcoin would hit $100USD at 2:17PM Central Time tomorrow!!!!

Captain, the engines won't make it!

[move_zig]

  Say what you want, but this week's chart for gold isn't looking very good.

I haven't figured out how to post a picture yet.

[Aahzman]

I honestly have no farkin' clue what a fibonacci oscillator is, or what it has to do with currency/commodities valuation.

[TheButterZone]

But my flux capacitor produced 1.2jiggawatts of bitcoin extrapolation data saying that bitcoin would hit $100USD at 2:17PM Central Time tomorrow!!!!

Jigga, please!

Gigawatts!

[Aahzman]

But my flux capacitor produced 1.2jiggawatts of bitcoin extrapolation data saying that bitcoin would hit $100USD at 2:17PM Central Time tomorrow!!!!

Jigga, please!

Gigawatts!

LOL +1

nice. i know it's pronounced gigga-watts, but in the movie they keep saying jigga.

I almost said "and each user would have 50 jiggleburps of file storage space attached to their VDI profile" in a customer meeting the other day. Jiggleburps and Terrorbiggles.

[Lethn]

This isn't anything to do with gold being a bubble or anything like that, usually that's called profit taking, when gold reaches massive highs a sell off usually follows as everyone cashes in from their investments, with the way the central banks are rabidly printing cash right now gold is just simply going to go up again.

[NABiT]

Gold’s Death Cross is a buy signal for China

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100022953/golds-death-cross-is-a-buy-signal-for-china/