empty
 
 
02.01.2020 03:56 PM
Gold price is showing warning reversal signs

Gold price continues to make higher highs and higher lows. Price is in a bullish short-term trend and we can soon see a new higher high towards $1,530-40 area. However the RSI is providing us with some warning reversal signs that should be taken under serious consideration.

This image is no longer relevant

Green line - bearish RSI divergence

Gold price is challenging recent highs. However the RSI does not confirm this bullish strength. So far we have one divergent new higher high and a second one most probably today will occur. This would be an important bearish warning sign. Bulls should be very cautious and are now warned by this divergence. Short-term support is at $1,517. Breaking below this support level will open the way for a pull back towards $1,490-$1,500 at least as we have been expecting from the end of last week. I believe this is not the time to chase the price at current levels. Bulls should be very patient and wait for a pull back, while bears could see the new higher high as an opportunity to go against the trend specially if we see another bearish divergence.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback