10baggerbamm : patience pays off... when you think gold is down and out that's when institutions are buying it. it's highly manipulated. 46.32. that's going to be a potential near-term resistance. if it clears it it will cross right through 50

Fat ginger cat OP 10baggerbamm : why gold raised it drops though?

Fat ginger cat : Still holding

10baggerbamm OP : here's a longer-term chart and even when the trend is lower which ideally you don't want to buy and hold something when it is gradually trending lower but even when it's trending lower if you bought it when it touched the blue line you made a profit you couldn't get to an oversold point you got to the middle moving average which is the little purple line. but anyway you want to take out your ginsu knife and chop it or cut it or slice it this works so I don't know if this time it's going to recover to an overbought condition but it's going to go back to the moving average because statistically using Bollinger bands 90% of the time the stock will trade in between the high and the low band those are pretty good odds to bet on think of the casino if you could bet on the side of the casino and be right 9 out of 10 times would you do it?