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To: Julius Wong who wrote (115482)1/28/2023 12:17:13 PM
From: Sun Tzu  Respond to of 116837
 
I have to agree. And it's not just on the daily charts. On the weekly gold is way overbought too and is starting to rollover.



To: Julius Wong who wrote (115482)1/28/2023 2:52:48 PM
From: Rarebird1 Recommendation

Recommended By
Rollocaster

  Read Replies (2) | Respond to of 116837
 
If you take a look at the PPO ( Proportional Price Oscillator), it has begun to rollover. It should get to the zero line to signify that the correction is over. That would entail a 10% correction in the POG and about a 20-25% correction in GDXJ.

Nothing wrong in establishing a short position while holding a core long position.

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