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imo Gold is oversold, should be closer to 1500 than 1300 given...

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atomik

1,744 Posts.

03/11/16

09:58

Post #: 20333681
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Originally posted by insaf ↑

Due to technicals. Overbought for the moment and hence the risk of a pullback or a pause has increased. Hence an increase in sellers. However, one should not automatically expect a large reversal and POG can continue ascending whilst skirting this oversold positions. The key is to remain above ma50 at 1299/1300 and wait for the MA10/20 to catch up.
Hurdles on the upside in the short term are the 1325 levels where we meet the LT downtrend from All time POG peak. However the downside support needs to hold at 1300 then back to that 1292 res.
Nothing just goes up in a straight line.

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imo Gold is oversold, should be closer to 1500 than 1300 given all that's going on around the world.

BDR chart still in an uptrend and I forget too often to look at this chart for guidance, also very much up:

BDR Price at posting: 47.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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