27 Jul 2020 ● 01:34 AM
In a separate note I have mentioned that gold may have a high RSI. Copper is a good example where the RSI had reached 87.7 on 13 July and is now down to 63 even as prices have simply consolidated in the trading range. The setup is for another move higher from the 20 DMA support near 2.84 to the top end of the channel near $ 3.1. It is also possible that copper is forming a triangle in wave iv and will remain in this range a while longer to complete wave d and e before making the move higher.