CoinChartist

$GOLD Overheated on Monthly SHORT

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold very well could be in a longer term uptrend but I don’t think it gets through this resistance the first try -and things are looking very overheated on monthly timeframes.

A bearish wedge is forming, MACD is signaling overbought and looks to be turning down, and there’s a bear div on the RSI.

CoinChartist is run by Tony "The Bull", a level 3 CMT student & technical analyst fascinated w/ Elliott Wave Principle, Hurst Cycle Theory, W.D. Gann, Japanese Candlesticks, & other classical charting methods. Visit coinchartist.io for free TA education!
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