This Big Beautiful Chart or B.B.C.™ shows possible extensions for this wave, when extending into all time highs there's not a lot to go on, but the 1.618 fib extension is my go-to. Paired with RSI and trend channels you can start to get an idea of where resistance and pullbacks may be.
RSI has bearish divergence so it appears we are losing investor confidence at this price level, upper movement to the next level will require some powerful news like rate cuts or more tariffs. Canada and Mexico produce 330 tonnes of gold annually while the USA produces 160 so these tariffs could very well lift the price even higher like they did with copper
RSI has bearish divergence so it appears we are losing investor confidence at this price level, upper movement to the next level will require some powerful news like rate cuts or more tariffs. Canada and Mexico produce 330 tonnes of gold annually while the USA produces 160 so these tariffs could very well lift the price even higher like they did with copper
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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.