is at monthly resistance levels, on a downward channel
formation. Additionally, it is overbought on fast stochastic
, coupled with the tightening band volatility
indicating a consolidation before a significant move. Given the technical situation, looking for a short position seems to be in order. However, the fundamentals aren't crystal clear yet (as we're all awaiting the coming Gold
Referendum on November 30th) , so we believe the more prudent thing to do will be to await further confirmation, be it technical or fundamental.