Gold daily bearish divergences are warning of a pullback. It certainly can go higher to take out stops above 2100 but I don't that rally would last. Maybe demand for the USD is coming again as everyone is bearish on the dollar at this point.....
Various lines on the chart can be targets.
This is very similar to a Wyckoff distribution top so a thrust slightly higher is possible but in general I see this as a topping pattern and not a consolidation before a move up.
Good luck!
Various lines on the chart can be targets.
This is very similar to a Wyckoff distribution top so a thrust slightly higher is possible but in general I see this as a topping pattern and not a consolidation before a move up.
Good luck!
Kommentera:
pullback so far, weekly candles look toppy to me.
