weakening momentum on gold
Updated
hey guys,
On gold I have some things that I want to focus your attention on.
On a daily looking left, we can easily identify a wide potential reversal zone.
The market has recently touched it and since then I am looking for reversal signals on lower timeframes.
What is worth to mention, is a clear weakening bullish momentum:
the market started its movement in a rising channel 13th of November,
and the first leg of move in a channel drove the market from 1200 to 1300 $.
the second leg was more modest: price rose from 1280 to 1320.
and the las from 1305 to 1340.
+ Take into account a clear rsi divergence!
however, remember that the market is still bullish, and for now there is no clear signal or pattern to sell the market.
just pay attention to gold and wait!
good luck!
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