GOLD Is Going Down! Sell!
Updated
Take a look at our analysis for GOLD.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 2,306.082.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 2,255.530 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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I am confident in this trade so I will keep it open!
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