With weekly RSI lowest record in thirteen years and the price touch in the 76% retracement (low october 2008 and high april 2011), the metal is ready to go up.
Comments
knock
⋅
regardless of any further potential drop in precious metal, it's time to switch the gear on the move up, but we have to respect any drop calmly. The rising USD will add pressure on metals in short term, but it won't defeat our faith of a new cycle. We just need to wait patiently that every anal-yst on the street is bearish on metals, and it'll be the moment for the rally.