$XAUUSD has reached a weekly local TOP here on a 9 Sell setup combined with a C21 combo countdown.
Wave 5 is also in progress but it is too early to confirm its completion.
Positive elements for a bullish continuation
- The most recent Sell SETUP 9 resets the previous countdown since its size is between 1 and 2.618 the previous TD Sell Setup.
- Still no signs of weakness on the MATHR3E REI indicator (overbought territory/above 40).
- No clear divergence on the RSI indicator to anticipate the end of wave 5.
For the moment, a lateral consolidation is to be preferred over a reversal.
This could last until the end of the year.
Best!
MATHR3E
Wave 5 is also in progress but it is too early to confirm its completion.
Positive elements for a bullish continuation
- The most recent Sell SETUP 9 resets the previous countdown since its size is between 1 and 2.618 the previous TD Sell Setup.
- Still no signs of weakness on the MATHR3E REI indicator (overbought territory/above 40).
- No clear divergence on the RSI indicator to anticipate the end of wave 5.
For the moment, a lateral consolidation is to be preferred over a reversal.
This could last until the end of the year.
Best!
MATHR3E