it is now oversold on the daily chart as well. I suspect a bounce off this support due to the RSI and current price action and a channel forming before taking on a newer high or newer low.
Also, lots of the news surrounding Gold has been both positive and negative, leading me to predict with an edge that there is a new neutral channel in play.
Technical Analysis
We are breaking a previously tested resistance at $230.
To enter the new channel, we probably need to close above $235.
OBV is at all time highs.
RSI(10) @72, has been following setting lower lows and higher highs.
Overbought can continue to be overbought.
Check risk reward ratio in-chart.
** I would wait for a breakout to the...
