Gold is Now Facing This Important Test
An important test level for Gold ...
You know that I don't cover Gold, but many of our readers liked the last Gold update ... so, I will post another one today.
Bottom line: The chart below explains what is going on. If you look at our zero based RSI reading, it is now below a support level and slightly negative. That represents a negative bias.
If you look at the price chart, you can see that it is facing a critical test at it support line now. Gold needs to hold this support, or it will see a correction.
A correction with a higher-low wouldn't be a bad thing because it would be a buying opportunity for those interested.