Monday’s Panic Selling In The Gold Market Has Only Occurred 6 Times In History – Price Moves After Each Historic Panic Are Remarkable
KingWorldNews.com
July 21, 2015
After Monday’s massive selling pressure in the gold market, today King World News is pleased to feature a piece from one of the greats in the business discussing the fact that Monday’s panic selling in gold has only occurred 6 times in history. He also noted that movements in the gold price after each historic panic selloff were remarkably similar.
Jason Goepfert at SentimenTrader: There were whiffs of panic selling in gold on Monday, which normally happens within days of the metal forming a short- to intermediate-term low, but it says nothing about its long-term prospects.
For the past couple of days in this report in the update on gold stocks, we’ve been watching for heavy, exhaustive selling over the next several sessions as likely signaling a wash-out.
That’s what’s happening now, as Monday’s activity had many of the hallmarks of panic selling pressure (see chart below)….
The Rest…HERE
