Double top at strong 1640 resistance level (dotted red line).
High volume with no significant price change (circled in red). Prices stagnant over the last 24 hours.
Bearish divergence on RSI (solid blue line).
Consolidation triangle between solid black lines.
Price level testing the 50 exponential moving average (solid purple line) and looking to drop below.
Consolidation on volume based price (circled in red).
Thoughts?
High volume with no significant price change (circled in red). Prices stagnant over the last 24 hours.
Bearish divergence on RSI (solid blue line).
Consolidation triangle between solid black lines.
Price level testing the 50 exponential moving average (solid purple line) and looking to drop below.
Consolidation on volume based price (circled in red).
Thoughts?
Comment:
Here is an update on my outlook for gold:
