Gold vs. XAU index

Apr 20, 2023

Just marking up this chart with some divergences between the price of gold and the XAU index. I was surprised to see that the ATH of this index was one year ago and it's still within the .618 retracement. Bearish.

Apr 20, 2023

Note

Did I say ATH? I meant previous high. The ATH was in 2011, when gold hit its previous peak. In fact that's another big divergence...