Is Gold Over Bought ?

Gold Trading

Gold Trading: Looking for a Short

Since gold pass 1270.00 is start to be Over Bought. Gold is falling in to  a range of old highs that range between 1350.00 and 1325.00. What it’s good for those who are more “Long” on mid-term in gold trading.

As you can see, after price get over bought, buyers was in control on gold price, by moving slowly Up with LL-HH,HL-HH Pattern.

But on last week, on last move up, buyers fail to create new highs, and sellers did create new Lows. Like what, we should go back in 1300area and even better if gold price go back at 1270.