Gold has been in a raging bull market and almost up over 100% since its monthly bullish engulfing candle.
Gold sniffing out week monetary policy and rallying on the back of easing global monetary policy.
Historically from a trading standpoint, Gold is extremely overbought and could be 4-8 weeks away from a considerable pullback of 15-30% .
Many Signals such as symmetrical moves, Monthly overbought RSI, Copper / Gold Divergence, GDX resistance is telling us to use caution and trim long profits.
It does seem like gold wants $3500 before it has a reversal back down. We are looking for a liquidity sweep of the ATH as a possible short zone. (Not FA advice)
Once gold resets some indicators and allows longer term moving average to catch up it will likely keep pushing but we only for see that in mid to late 2026.
If we make a new high....we don't see much upside for the next 3-6 months.
Gold sniffing out week monetary policy and rallying on the back of easing global monetary policy.
Historically from a trading standpoint, Gold is extremely overbought and could be 4-8 weeks away from a considerable pullback of 15-30% .
Many Signals such as symmetrical moves, Monthly overbought RSI, Copper / Gold Divergence, GDX resistance is telling us to use caution and trim long profits.
It does seem like gold wants $3500 before it has a reversal back down. We are looking for a liquidity sweep of the ATH as a possible short zone. (Not FA advice)
Once gold resets some indicators and allows longer term moving average to catch up it will likely keep pushing but we only for see that in mid to late 2026.
If we make a new high....we don't see much upside for 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.