📉 Gold Peaks $2,431 (50.58% Growth In 562 Days Since Sept. 22)

Gold is having its moment right now and we can spot a peak happening today; this very same day, the 12-April 2024 session —let us see how it goes.

I hope you get to have a wonderful weekend, this is just a quick reminder and I'll let you go.

First, the main signal:

This is based on candlestick reading.
Today's session is ultra-bearish and leaves no room for doubt. This is very likely the top and XAUUSD is set to move lower based on simple market cycle dynamics.

➖ Gold has been growing since late 2022 together with Bitcoin and the rest.
➖ Gold peaked just as Bitcoin and the rest did recently, so the entire thing is going down.

This signal comes together with a small RSI bearish divergence.

➖ Over a period of 562 days, Gold (XAUUSD) grew a total of 50.58%. From a low of $1,614 (28-September 2022) to a high of $2,431 (12-April 2024).

Get ready for the major flush/crash/drop, a strong correction.

Namaste.

Kommentera:

Gold's bearish potential is now fully confirmed on the daily timeframe.

Here is the weekly timeframe:

Notice this week's price is lower than the ATH week wick low.
(This is a strong bearish development.)

The week is young, closing below 2300$ would be super bearish. The fact that the week is full red on a Tuesday is also bad news. 👉 XAUUSD continues to point lower.

Kommentera:

We are likely looking at a lower high, I believe the energy will move away from Gold.

Gold will go through a correction regardless of the geopolitical situation. This statement is based on what I see coming from the chart.

Kommentera:

Here is the 4H time frame, classic lower high signals:

➖ Decreasing volume, neutral candle followed by a full red session to end the week on a bearish note.

Kommentera:

A major crash is now imminent... We have a bearish engulfing pattern after a series of lower highs... Watch-out!