Few things make me believe that GOLD is about to go a bit lower here.
This is a monthly chart, so I expect those moves to happen in few months timeframe, not tomorrow.
- Gold has been in overbought levels for over 7 months now.
- Even massive bull moves like the one from 2008 to 2011 always touched the 10 SMA (red one)
- Heikin Ashi candles are showing reversal patterns
- Regular candles are showing reversal patterns
- Stochs are nose diving below the 80 level
On another note - no bearish divergence on the monthly, so something to consider.
I think a minimum of 6% correction from this price is coming in the next 1-2 months and possibly even 16% in the next 3-6 months.
This is a monthly chart, so I expect those moves to happen in few months timeframe, not tomorrow.
- Gold has been in overbought levels for over 7 months now.
- Even massive bull moves like the one from 2008 to 2011 always touched the 10 SMA (red one)
- Heikin Ashi candles are showing reversal patterns
- Regular candles are showing reversal patterns
- Stochs are nose diving below the 80 level
On another note - no bearish divergence on the monthly, so something to consider.
I think a minimum of 6% correction from this price is coming in the next 1-2 months and possibly even 16% in the next 3-6 months.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.