Gold Could be Completing an Ending Diagonal Triangle
My 07/21/24 post on Gold noted its was hitting a long-term rising trendline from 2022 with a significant weekly RSI bearish divergence. Gold declined after that post but has now made a marginal new high.
The situation has gotten more bearish. Daily RSI and MACD have bearish divergences. Gold also appears to be near completion of an Elliott wave – Ending Diagonal Triangle.
Sometimes markets turn on Full/New Moons. There’s a Full Moon on 08/19/24.
Gold could be on the cusp of a multi-month decline.
The situation has gotten more bearish. Daily RSI and MACD have bearish divergences. Gold also appears to be near completion of an Elliott wave – Ending Diagonal Triangle.
Sometimes markets turn on Full/New Moons. There’s a Full Moon on 08/19/24.
Gold could be on the cusp of a multi-month decline.
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