XAUUSD: Very alarming MACD Bearish Cross long term.

Gold continues to flash bearish signals and besides the weekly (RSI = 34.620), it is about to turn technically bearish on the monthly timeframe as well (RSI = 48.938, MACD = 40.760, ADX = 33.051). On an even larger scale (3M), we have detected the latest sell indication, as the MACD formed a Bearish Cross.

With the price inside a giant Megaphonoe pattern where all candles have closed inside it, we can expect the current correction to extend as low as its bottom. During Gold's last accumulation phase (2015-2018), it was the 3M MA50 that saved the day and after testing and holding, it started the 2019 parabolic run.

Is this test inevitable?

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