Get started
RealFXBeast

Gold Monthly Divergence at Equal Highs

Short
Gold Spot / U.S. Dollar (FOREXCOM:XAUUSD)  
RealFXBeast Updated   
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Chart Patterns Technical Indicators Divergence reversal Monthly Charts Gold goldtrading Double Top
7
0
chartpattern indicator divergence reversal monthly gold goldtrading doubletop
What is the probability of this market going down? I would say much higher than going up for the months to come.

Monthly divergence at equal highs with MACD remaining below the zero line is a very strong reversal pattern especially on the higher timeframes as the monthly chart.

I am not saying it is the same as the pattern 10 years ago but it is quite similar and I am anticipating this one to move lower in the months to come.
Comment:
And it seems like the idea is unfolding. Commodities are losing value.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.