GOLD - BEARISH RSI DIVERGENCE | 61.8 FIBONACCI REVERSAL LEVEL

• Gold reversed from its local top at ~$1875 after hitting the multi-week down-trend line from its all-time high
  
• After reversing, price has retraced its downside move and reached the fibonacci 61.8% level
  
• This fibonacci level coincides with the downtrend line also, which serves as proven resistance
  
• Bearish RSI divergence has been printed on the hourly chart and given all the confluence from this and the above, there is sufficient reason to take a short position on GOLD
  
• A short position has been placed with its target being the 61.8% fibonacci level, ~$1805, identified from the local low of ~$1765 and recent high of ~$1875