17 Jul 2020 ● 03:25 AM
Gold prices came off yesterday form a near double top. On a closing basis gold made a slightly higher high and therefore has a negative divergence on the RSI indicator. The daily momentum crossing over to the sell side it is possible to mark this advance as a 5 wave move where the vth of v is truncated. The entire move may just be wave 1 of 3, and we may be pulling back in wave 2 of 3 that can retest either the 20 DMA at 1781 or the 40 DMA at 1760 before starting wave 3 of 3 up.