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CFDs on Gold (US$ / OZ)
Short

GOLD - BEARISH RSI DIVERGENCE | TRENDLINE TEST + 61.8% FIBONACCI

By JayanVarsani
Updated
  • Gold has broken out of the descending channel and reached the first major resistance zone
  • Given the bearish RSI divergence on the 30min chart and the divergence, there is a reasonable case to open a short position
  • Target will be the 61.8% fibonacci retracement which forms confluence with the 4H ascending trend-line
Trade closed: target reached
Chart PatternsCurrenciesdollarDXYForexfxGoldTechnical IndicatorsSilverS&P 500 (SPX500)Trend AnalysisUSD
JayanVarsani
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