Bull Trap on Gold?
There is some bearish RSI divergence on the weekly Gold chart. Price has not been able to close above $1300. Price has also rejected the 1.272 fin ext. If price closes under 1307.80, I think price will have strong pullback to at least $1220 level and even to $1060's. We'll see what happens. Good luck trading out 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.