XGD just starting or correction first?
Updated
Aussie gold stocks have moved with the latest spike in gold. But the RSI and MACD indicators are screaming overbought already, just three days in to what seems to be a revived bull run in the precious metal!
A pullback in the overnight (Australian time) Comex gold futures will do the trick.
What is impressive about this take-off in gold is that it does not appear to be dollar-driven.
DXY is still in bullish mode with positive MACD and no early sign of a top at the time of writing.
A pullback in the overnight (Australian time) Comex gold futures will do the trick.
What is impressive about this take-off in gold is that it does not appear to be dollar-driven.
DXY is still in bullish mode with positive MACD and no early sign of a top at the time of writing.
Note
Key buy stop on gold futures quoted by Kitco at 1335.70.
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