When we look at the gold market, it continues to go up. If it were to finish right here, it’s in an all-time high for the week. You can see how the market just continues to march to the upside; higher lows, higher highs. And as it’s doing so, you’re going to see in a moment it’s riding the Bollinger Band higher – watch. You just keep hitting that, that’s called the Gorilla Glue trade, and when that happens, it often forces the slow stochastics to embed.
At this point, the market is certainly an overbought territory, right at the band.
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