Gold has closed below its 144-day MA for the first time in 3 years. However, this still could be a monstrous bear trap. I have no intention of giving anyone investment advice (for which I am eminently unqualified) but we do have many readers who apparently like my silly charts, so for the record I haven't panic liquidated, though I'm somewhat hedged with a short position on the S&P500 (SDS).
The rest of the week will give us a lot of information as to what to expect in the medium term. (In the long run, this is of course just a game of waiting for some event, like a bank run, which should trigger the subsequent liquidity pump/money creation. But the Fed honchos are very, very clever at managing sheeple perceptions so that their own class, the banking class, may continue to prosper at our expense- let's please give credit where credit is due). If we have another day of waterfall declines, I will probably liquidate my main trading accounts and buy physical until the money printing event occurs. If anyone could tell me about their experience with Goldmoney.com, I'd truly appreciate it.
Critically, on the weekly gold chart, we need to close above the black line by Friday, and ideally not go down much further even intra-weekly.