Gold miners extremely overbought

Short

S&P/ASX All Ordinaries Gold Index (ASX:XGD)

Mis à jour

ASX:XGD S&P/ASX All Ordinaries Gold Index

indicator

Time to take some profits looking for a better entry over the next few months. The 30 week moving average as a minimum correction level

Commentaire:

OK this was wrong but RSI is over 86 at the close of last week. The selling should begin sometime soon

Trade fermée manuellement:

Gold looks like it is forming a zig zag so a drop below 1480 and then a push over 1550 is probable. Better to close this idea out for no loss today as short term a bounce looks imminent. XGD and XAUUSD showing some serious strength here. Still waiting foe a multi week long entry point.

Commentaire:

Now we are much closer with what appears to be the start of the multi week correction I have been waiting for for gold. Almost time to start accumulating.

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