RSI remains under pressure, MACD still not breaking median, linear channel remaining at 50% not breaking 50%, sellers placing market under tremendous pressure.
Bears pushed the overexcited bulls down on Friday after the news spike closing after all at 2327 as expected.
The RSI still remains at 53% and MACD strongly under 50% move. The linear regression channel also negative for the last 6 trading days. Can not see increase in price for at least Monday, still serious sellers pressured. Trading short.
Volumes negative. The news in 3 hours time has already being accounted for in the last 24 hours. The interesting thing though is the 70% resistance line of the RSI does not get broken for the last couple op days which means the sellers will remain dominant in the gold market. This might remain the position for the next couple of days.
