GOLD - Major Top
I was expecting Gold to rally until year-end and top around ~2800 but the hard fib reaction @ ~2500 dropping ~5% and also the look of silver chart, along with momentum divergences argues for a major top right here. At the least, a good level to empty your bags here, if not outright short.
GOLD
GOLD Note
Note
But there is still a lack of conviction to go outright short because the 10Y still has a look of a wave 4 correction in progress which leaves a potential for another rally later this year.
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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.