Gold Daily Update: Triangle pattern and bearish divergence
Gold is closing today's trade in a bearish tone after a rebound in the US dollar following stronger than expected inflation numbers.
The spectacular bull run shows signs of exhaustion, with the RSI printing a triple bearish divergence.
We may see a correction of the recent impulse move to the $1.368 area, which aligns with the 38.2% Fib level and a strong horizontal support zone.
The spectacular bull run shows signs of exhaustion, with the RSI printing a triple bearish divergence.
We may see a correction of the recent impulse move to the $1.368 area, which aligns with the 38.2% Fib level and a strong horizontal support zone.
