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Gold - It May Have Topped

January 22, 2015

Gold daily chart showed that gold price may have topped:

1. RSI entered overbought territory. In the last 12 months, this happened twice and each time this happened, gold dropped hard later.

2. The drops were always not immediate. It almost spent one month before the real down move started in previous cases.

3. Gold price went up today but that did not translate into higher GDX and GDXJ prices.

See Gold daily chart below:

 


   
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