Anyone else a bit cautious about gold's overbought RSI on the daily? It's been a good run, no doubt, but I'm wondering if we're due for a correction soon. What are your thoughts on potential entry points for a short position if it does pull back? I'm thinking around the 4980 area...
Update: Looking at the H4 chart, there's a potential bearish divergence forming. Price making higher highs, but the RSI is making lower highs. Could be a sign that the momentum is slowing down. I'm not saying to jump in headfirst, but definitely something to keep an eye on. I've got a small short position open with a tight SL just above 5010. Will add if it breaks below 4990. Just playing the short-term here, tbh. Long-term, I'm still bullish on gold due to inflation.
