A death cross looms for gold hinting at a deeper correction

In terms of the simple moving average, the death cross has already happened late last month at the Rs 49,550 level, said Rajesh Palviya, technical head at Axis Securities. He added that a 10 per cent correction normally happens after such a cross, though at times the metal can also bottom out after that.

from Stocks-Markets-Economic Times https://ift.tt/3pw4GgW