Bearish Divergence Across Multiple Timeframes on XAUUSD – Potent

Gold (XAUUSD) has shown strong bullish momentum recently, reaching an all-time high of $3,085.345. However, there are clear signs of bearish divergence forming across the daily, 1-hour, and 15-minute timeframes, suggesting the bullish momentum may be weakening.

Technical Breakdown:
📅 Daily Chart (1D)

Price is making higher highs.

RSI is making lower highs – a classic bearish divergence.

RSI currently at 73.87, in the overbought zone, indicating exhaustion.

🕐 1-Hour Chart (1H)

Similar structure: price climbing while RSI is trending downward.

RSI around 62.27, showing divergence from the new highs in price action.

🕒 15-Minute Chart (15M)

Intraday bearish divergence continues.

Price is riding an upward trendline, while RSI forms lower highs.

If the trendline breaks, it could lead to a swift correction.

Bias: Bearish (Short-Term)
Trade Idea:
If price breaks below the $3,070–$3,060 support zone (trendline on lower timeframes), we could see a pullback toward the following levels:

📉 Target 1: $3,032
📉 Target 2: $3,003
📉 Target 3: $2,980 (Previous consolidation area)

🛑 Stop Loss: Above the recent high at $3,090

Conclusion:
While the macro trend is bullish, the confluence of RSI bearish divergence across multiple timeframes hints at a potential short-term reversal or correction. Risk management is key as Gold remains fundamentally strong.

Let the price action confirm the divergence via a breakdown before entering a short position.