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JayanVarsani

GOLD - BEARISH RSI DIVERGENCE | TRENDLINE TEST + 61.8% FIBONACCI

Short
CFDs on Gold (US$ / OZ) (TVC:GOLD)  
JayanVarsani Updated   
TVC:GOLD   CFDs on Gold (US$ / OZ)
Trend Analysis Technical Indicators Chart Patterns Gold Silver Forex fx Currencies S&P 500 (SPX500) DXY dollar USD
7
3
trendanalysis indicator chartpattern gold silver forex fx currencies spx500 dxy dollar usd
  • Gold has broken out of the descending channel and reached the first major resistance zone
  • Given the bearish RSI divergence on the 30min chart and the divergence, there is a reasonable case to open a short position
  • Target will be the 61.8% fibonacci retracement which forms confluence with the 4H ascending trend-line
Trade closed: target reached
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