Overheated or what? The Market Ear.
Stopped in/out
Gold is putting in a massive shooting star candle so far today. You watch these type of candles very carefully after an asset has moved sharply as it could be the first indication of a short term trend reversal. The psychology is very powerful as it basically tells you the buyers, in this case, could be losing steam as we reject prices higher. We almost reached the upper part of the trend channel and RSI is at 79! Are we nearing the point where the last gold skeptic has been “stopped in” and the stubborn short has been “stopped out”?
