@rocktradr, Time will tell. The 1205 support goes back many many years. I would simply watch that level. This post merely points out that the oversold condition we are witnessing on the weekly scale doesn't happen often, once every few years.
mortdiggiddy
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@rocktradr, To build a true bottom, gold will need a weekly bullish divergence at this point, it just sold off too much and too long.
mortdiggiddy
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@rocktradr, This level is not once to simply ignore.
Tradingsniper
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Tradingsniper
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Would this breakout not infer further falls. Gold is in a down channel and unbroken despite yesterdays moves
mortdiggiddy
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@Tradingsniper, Time will tell. Oversold conditions like this don't last.