Gold Price Forecast: 51% of mean-reversion signals point to further XAU/USD downside – TDS

FXStreet Insights Team FXStreet

Strategists at TD Securities analyze Gold, Platinum and Silver technical outlook.

Extreme uptrend in Silver is showing signs of turning over

“From a technical lens, Gold now screens most overbought in the precious metals complex with 51% of mean-reversion signals pointing to further downside, but the combined breadth of trend and mean-reversion signals is sending mixed signals for Gold after a boom in physical buying activity supported trend signals higher.”

“Today, the breadth of uptrend signals in Platinum continues to deteriorate, and overbought signals still suggest the consolidation lower has some room to run before prices find a bottom.”

“The extreme uptrend in Silver is showing signs of turning over, with trend signals deteriorating in favor of mean-reversion signals pointing to additional downside.”

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FXStreet Insights Team

FXStreet

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