Gold's Double Top
Gold has a much more calm market compared to other assets I track and trade. Here would be where I would start opening short positions.
We've seen a double top on the 1-day chart, also breaking out and back into our Keltner Channel, a sign of a reversal.
If we break support of the 200-day EMA, which I believe we will, we'll retest our $1,720 area for support.
My last call on gold was in the $1,620 area.
We've seen a convergence in our TSI MACD and RSI.
our RSI is highly overvalued.
TSI and MACD seem to be on the cusp of a bearish crossover.
We've seen a double top on the 1-day chart, also breaking out and back into our Keltner Channel, a sign of a reversal.
If we break support of the 200-day EMA, which I believe we will, we'll retest our $1,720 area for support.
My last call on gold was in the $1,620 area.
We've seen a convergence in our TSI MACD and RSI.
our RSI is highly overvalued.
TSI and MACD seem to be on the cusp of a bearish crossover.
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