Gold Technical Analysis for August 13, 2019 by FXEmpire

1 Comment

  1. Right now my focus is on the bear miners. What I remember is how they
    broke out of their daily EQ before gold actually did so they are more
    overdue for correction. GDX has daily and 4hr bearish divergence on RSI
    and the weekly RSI is the highest that it has ever been in 13 years.
    Gold itself has the 3rd highest weekly RSI ever, except the other 2
    times prior to this it was in blue sky breakout and now that is not the
    case here. I am looking for daily consolidation into possibly weekly
    consolidation. Taking it a day at a time, but certainly the risk to
    reward favors the bears here short term. Next week I'll buy when its in
    the mid to low 1400s

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