GOLD's melting point is 1064 C ...so is does melt
Yes, GOLD broke out of a major triangle and put on the glorious shine.
But it certainly feels overheated now with momentum running little out of steam, produced a rising wedge formation
accompanied with a negative divergence.
The trend is up and could make another new high in this move, but this only means the air gets even thinner and the nice rally needs to be corrected...
So, I am short and looking for a retracement to the 1690-1720 range
Yes, GOLD broke out of a major triangle and put on the glorious shine.
But it certainly feels overheated now with momentum running little out of steam, produced a rising wedge formation
accompanied with a negative divergence.
The trend is up and could make another new high in this move, but this only means the air gets even thinner and the nice rally needs to be corrected...
So, I am short and looking for a retracement to the 1690-1720 range