Rounding top formation on the price chart and RSI suggests the bullish move has run out of steam. The technical picture gels perfectly with the fact that March Fed rate hike bets stand above 60%. Gold is retreating as well.
Thus, a drop to 0.75 handle appears more likely.
Only a move back above the rising trend line would signal continuation of the rally.
Thus, a drop to 0.75 handle appears more likely.
Only a move back above the rising trend line would signal continuation of the rally.
