The slow and steady increase of Gold in a narrow RSI Channel and congruent Stochastics over all time ranges is "some bit" of striking. A Cup and Handle formation was formed with a target of 1175. Reaching this target would mean:
- breaking the 200 day mov. av.
- breaking the falling wedge
- breaking a long term resistance
An Elliot Impulse wave seems to be on the way with currently wave 3. With current RSI long to get in oversold territory and yesterdays COT Report a correction is highly probable.
- breaking the 200 day mov. av.
- breaking the falling wedge
- breaking a long term resistance
An Elliot Impulse wave seems to be on the way with currently wave 3. With current RSI long to get in oversold territory and yesterdays COT Report a correction is highly probable.
