Gold has been on an amazing run lately and has reached a higher level than my previous forecast for a short area. I have highlighted the divergence on the 4-hour chart in light blue. A spike outside the Bollinger Band which creates a higher high could be a signal to short based on divergence with the RSI.
Short term targets would be the white dotted trend lines that stretch from the beginning and midway point of this rally.
If these break, a target of 1220-1210 is in place.
Short term targets would be the white dotted trend lines that stretch from the beginning and midway point of this rally.
If these break, a target of 1220-1210 is in place.