Yep - Gold monthly RSI is overbought; the daily MACD crossed over on the 29th and histogram went red; double top on the daily; XGD run into resistance on the downward trend line from Aug '19 and Feb '20 tops after a pretty healthy fast run up; time overbalanced... typical 4-5 day retracement has turned into 6 and might go a bit further if it breaks through and closes below the 21st April bottom.
Gold needs to have a break for next leg up. 12,36,60 MA divergence still looks pretty healthy on the weekly and monthly charts, GDX has broken through its multi year sidesways bear market move tops and of course the macro FA view is incredible for gold. Could see equities start to catch up with the real economy and roll over, which may expose more selling pressure on non equity assets.
$3.90 valuation by GS updated, page-441
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