Discussion in 'Commodity Futures' started by themickey, Aug 20, 2019.
lol. (By the way, it's the Ariel Atom ripping Clarkson's face off.)
Gold is starting to smell a bit overbought.
mr Overnight, gc isn't too overbought on a 2-minute right now, but that says nothing of two hours from now. What timeframe or what hold period are we thinking?
Silver been leading the way past few weeks. China trade war is main focus. Both were overbought on the short term as today's action proved, however, gold can go down to $1500 and still maintain daily bullish posture.
Yes and a very bearish signal on gold today, I'll bail out when our market opens.
Metals (not precious) today on the other hand looked very sprightly.
Nickel stocks in Australia last few days have been strong.
My cycle analysis. Gold has probably made a high. Moving down to the cycle low due around Oct. 10. Then moving higher into early December. I don't know how far it will move or what price levels will be. This is timing only. Markets are not random.
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