Thanks @V*
Actually I don't know who you're referring to as I can't read many Posts here (that's an HC Feature)
Re "hugely oversold indicators."
I don't use them (but maybe I'll throw one on a chart and take a look - see below) but of course they're showing oversold, because they're reflecting the trend, it's that simple (and vice versa if "overbought") - and so not useful, except for after the fact verification (like most lagging price derivative math indicators...and also those called "leading", as well). If any one bought on the most recent oversold signal, from say, RSI (below), would be hurting pretty badly.
Price can stay "oversold" or "overbought" for a long time.
For the record, the green line marks an intermediate Support level (but not a "traditional" Support). It broke shortly after the NY Open and rallied, and so, held last night. We'll see what happens today / tonight
Let's see, yep, it's (RSI) reflecting the trend (which I reckon a 5 year old can see):
XAUUSD - DAILY
