PatiencePays777

XAUUSD shows signs of potential decline.

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Evidently, the market will do what the market wants to do, so this is no guarantee that it will actually go down. However, we see that there is RSI divergence. AND, the bump and run formation is now in the run phase. The trend had a lead-in trend line with the black trend line on the bottom. The bump phase happened with the blue trend line. Shortly after that you can see that blue trend line was broken. I would say it is still barely in an uptrend which also indicates that the buyers are not completely dominating in terms of their control. The sellers can come in and tip this in there favor whenever they want. However, the buyers can get stronger as well. So, we wait and watch, but I would definitely only look for sell opportunities for now after the break and retest of the channel that I have it in.
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