Gold will continue to decline
Where I usually use divergences to identify reversals, I can use the opposite approach with gold.
Currently, neither the volume nor other oscillators point to a weakening trend strength.
On the contrary, a bullish order block has recently turned into a bearish breaker block - a clear sign for further price declines.
We are therefore opening a short position with the target of the interim high of early March 2023.
This gives us an RRR of 1.6:1.
Currently, neither the volume nor other oscillators point to a weakening trend strength.
On the contrary, a bullish order block has recently turned into a bearish breaker block - a clear sign for further price declines.
We are therefore opening a short position with the target of the interim high of early March 2023.
This gives us an RRR of 1.6:1.
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