Gold Trying to Re-enter Channel, but Oscillators Suggest it Wont
Although my sentiment for major equities and currencies is bearish (except DXY), it seems as though gold cannot maintain its edge and dropped below its rising channel that had formed since 2018. While its trying to regain its footing and get back within that channel, oscillators such as RSI and the stochastic are suggesting gold prices are overbought. Overall, this gives me pause for prices as this level at this time, but not prices at this level and above it after a brief pullback. Pullbacks that are measured are oftentimes healthy for financial markets. So too would one be for gold.
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