PRUDENT INVESTORS PAY ATTENTION: GOLD MAKING A NEW HIGH AT A TIME NVIDIA AND BITCOIN ARE MAKING NEW HIGHS
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
The Message For Prudent Investors
Please click here for a chart of gold ETF (GLD).
Note the following:
- The chart shows that gold has broken out to an all time high.
- The chart shows higher volume. This indicates conviction in the breakout.
- RSI shown on the chart is at an all time high. This indicates there is high momentum behind the breakout. Breakouts that happen with RSI at all time high tend to lead to big moves in the longer term. However, when RSI is this overbought, it often leads to a short term pullback.
March 7, 2024