GOLD 0.51% $1,391.7 gold futures

Technically (and short-term) speaking...Gold's technical...

  1. BH!
    2,521 Posts.
    Technically (and short-term) speaking...
    Gold's technical indicators on the weekly are rolling over, with a probable bottoming at between $881 and $843 (Fib retracements) from mid-April onwards.

    The weekly chart below shows that, historically, the stochastics, once they roll over, take about 2 months from top to bottom. Similarly, when the RSI turns down, it almost always continues until at least 50. Given how far down the stochastics and the RSI have come so far vs. how much further they have to go to reach historical bottoming levels, $880 - $850 seems a likely target.

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