GOLD might be short at these moment
As the market close at double top, with low balance volume , that's mean it create divergence on weekly MACD ,MA O and Volume, let's say the bullish trend is weakened , Gold oversold condition followup by its peak 5th wave pattern on 1 hour TF , gold has a Huge potential making downwards move, these is not a confirmation of bearish trend yet!! , but we'll have to observe for upcoming weeks, this either a 5 descending move as gold usually make before gold explode for more bull, or it might be a big ABC short (sell). these is my view IF the gold price don't Break These week High.
Note
wooohh that really a HUGE Short there
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.