Gold finds a bottom price following sell!
https://www.tradingview.com/x/hTtHLQ33/
Gold and even more so Silver were very overbought in the Daily & Weekly Timeframes, triggering their sell-offs within an hour of FOMC reducing interest rates.
I was aware that Gold / Silver were very overbought in these higher-time-frames but I was not watching the indicators so I was also caught off-guard as the Gold-price slides very fast.
The Gold-price has recently found a bottom price and has rebalanced and corrected the overbought condition.
Gold and even more so Silver were very overbought in the Daily & Weekly Timeframes, triggering their sell-offs within an hour of FOMC reducing interest rates.
I was aware that Gold / Silver were very overbought in these higher-time-frames but I was not watching the indicators so I was also caught off-guard as the Gold-price slides very fast.
The Gold-price has recently found a bottom price and has rebalanced and corrected the overbought condition.
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