Multiple bearish divergences signal for a deep retracement down

Short

Gold Spot / U.S. Dollar (FX:XAUUSD)

Updated

FX:XAUUSD Gold Spot / U.S. Dollar

Gold Divergence Moving Average Convergence / Divergence (MACD) Stochastic Oscillator rsi_divergence

gold divergence macd stochastic rsi_divergence

XAUUSD

With these bearish divergences it looks like the time for a deep downward retracement has come for gold.

Comment:

We've had a sizable move down already and the latest weekly candles confirm further fall of the price. The retracement down maybe even deeper than initially projected.

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