Condizioni di trading
Strumenti
Green lines- Fibonacci retracement levels
Red lines- bearish RSI divergence
Gold price is trading around $1,800. Short-term momentum remains bullish specially after the break above $1,763 where we got our last bullish signal. Price continues making higher highs and higher lows. Gold has broken above the 38% Fibonacci retracement of the entire decline from its 2022 all time highs. Despite making new highs, the RSI does not follow to a higher high. This bearish divergence is something that should not be ignored. This is not a reversal signal but only a warning. Bulls need to be very cautious.
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