Gold has been a terrible short for awhile now but from a technical perspective this has to be one of the best setups you can get. Multiple divergences from well know momentum indicators, a variation of the evening star candlestick reversal pattern, and fresh off all time highs. From a pattern perspective it is forming an ascending triangle and it also has Trendline support as well. A break below this triangle would suggest a price target of 2850-3000 depending on what school of thought you align with on triangles.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.