Gold - Bearish price RSI divergence at falling trend line hurdle
Resistance - $1263, $1270, $1284
Support - $1260, $1253, $1247
Support - $1260, $1253, $1247
- Gold's bearish price RSI divergence on the hourly chart comes at a time when the metal is attempting a bullish break from falling trend line on the daily chart.
- In this scenario,a failure to hold above $1260 (rising trend line support on hourly) would add credence to bearish divergence and open doors for a fall back to $1253 levels. A violation there would expose support at $1247.
- On the higher side, an hourly closing above $1266.37 would signal bearish divergence invalidation and shift risk in favor of a rise to $1270-$1270 levels.
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.