Sell on RSI and Hurst analysis. Targets around 8000; then 7400. Break below opens the way to 3K.
Gold overbought. Correction is essential before further bull market. Targets 1583-1640
Counting COVID19 panic as zigzag correction. On a monthly chart, it reads as a test of the bull market trend line from 08/09 financial crisis low (666.36). One may be tempted to count that undeniably strong move down as an impulse down, but detailed analysis proves otherwise. The drawdown was driven by panic margin-calls, so the magnitude of the move was quite...