With the massive plunge in gold over the last week or so, I thought it would be helpful to show where gold currently stands on a short and long-term basis. Just for reference, the green dotted line represents oversold conditions (buy) and the red dotted line represents overbought conditions (sell).
As you can see, on a shorter time horizon (2009-present) gold is deeply oversold and may experience a snap back rally:
However, on a much larger time scale (2000-present) gold still hasn't reached oversold territory and looks to have further to go before putting in a long term bottom:
