Updated
Weekly NMACD giving us a multiweek bearish signal on Gold
Title says it all. When NMACD hits these levels, price tends to consolidate for several weeks/months before approaching similar highs. The green line is the delineation between bear and bull market, which its clear we are still in a bull market. Look back at the previous bull market to see how price acted after hitting this NMACD level while still in a bull market.
Note
When are we continuing up into Wave 3 of this 20 year long bull market? Hard to say when, but I will be watching for a bounce at these NMACD support levels.Note
A fractal of wave 1 over the start of what is probably wave 3
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Disclaimer
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.