Gold has been oversold in the short term, but there is still no obvious stop signal. The market is waiting for the release of CPI data, and it remains to be seen whether it can become a catalyst for gold prices to rebound. Analysts believe that the decline in gold prices has not abated, and the correction is still expected to continue.
Gold Ten Futures, August 15, Chicago Board of Trade (CBOT) soybean futures mostly closed higher on Wednesday, with the main contract closing 0.6% higher, emerging from a technical rebound after hitting a four-year low on Tuesday. The U.S. Department of Agriculture raised its forecast for U.S. soybean production in the 2024/25 year to a record level, and soybean prices fell to a four-year low, causing technical oversold. One analyst said that perhaps the impact of the supply and demand report has...
On June 26, Matrixport published an analysis saying that Bitcoin is oversold. Historical data shows that there is usually a certain rebound after oversold. At present, the Relative Strength Index (RSI) has reached its lowest point since August last year.
Bitcoin is severely oversold, with influencers advising followers to buy dips as counterfeit products appear to have weathered the storm, according to a report from 10x Research. The Research Greed and Fear Index is near its lowest level and is usually associated with lows. In addition, there are many reasons for the bitcoin sell-off: Mt. Gox's bitcoin distribution (probably worth $9 billion, starting in July), the German government's sale of confiscated bitcoins ($3 billion), bitcoin miners.