Hi everyone, bearish analysis on gold, time frame at one hour. RSi's bearish divergence on the a-b-c corrective movement.
RSI continues to decline without making any bullish divergences on the movement, confirming the bearish continuation in the short term.
On a larger time frame, we are currently in a phase of congestion, from the end of January, between 1370 and 1300. This phase also seems to belong to the final phase of a larger triangle, with long-term bullish prospects.
Target and stop loss are taken from the support and resistance levels marked by the flags.
RSI continues to decline without making any bullish divergences on the movement, confirming the bearish continuation in the short term.
On a larger time frame, we are currently in a phase of congestion, from the end of January, between 1370 and 1300. This phase also seems to belong to the final phase of a larger triangle, with long-term bullish prospects.
Target and stop loss are taken from the support and resistance levels marked by the flags.
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