Gold and Silver Miners and the U.S Markets. Message Board

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Gold/Mining/Energy : Gold and Silver Miners and the U.S Markets.

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The1Stockman

To: The1Stockman who wrote (1877)	6/23/2014 11:49:00 PM
From: Robov	1 Recommendation of 1954

It depends on what time frame or what indicators you use to determine and define overbought. On a daily level using the RSI both are into an area above 70 that is considered overbought, but, an RSI can stay at, above or just below 70 for an extended period dependent on market conditions such as momentum. And RSI between 80 and 90 is considered extreme and will likely experience some sort of correction sooner rather than later and silver remains at 80. If one looks at the weekly gold chart there is still plenty of room to continue higher and the MACD is attempting to cross up but is going sideways just below center. A crossover would be a buy signal. It has also broken above it's long term down trend line. The gold monthly also have plenty of room with a MACD also turning up and at a low -67, a level never before seen on the my Netdania chart going all the way back as far as my chart goes which is 1995. It has also formed a monthly Outside day setting a higher high and is right up against an upper long term trend line.

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