ALERT: Gold Broke Through This Red Line Today

This will get some attention in charts circles.

Gold — which got whacked after the FOMC announcement — fell below its 200 day moving average (the red line on the chart), which some will take to mean more pain to come.

Others will note that gold was below this level late last year and rebounded nicely.



What’s perhaps more interesting is not the technical stuff — which some people regard to be nonsense — but the fact that gold sold off after the Fed while stocks didn’t. That’s kind of weird, since you’d think that if gold were reacting to the lack of dovishness, then that would’ve hurt stocks too.

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