GOLD - Major Top

14 มิ.ย. 2024

I was expecting Gold to rally until year-end and top around ~2800 but the hard fib reaction @ ~2500 dropping ~5% and also the look of silver chart, along with momentum divergences argues for a major top right here. At the least, a good level to empty your bags here, if not outright short.
GOLD

14 มิ.ย. 2024

บันทึก

15 มิ.ย. 2024

บันทึก

But there is still a lack of conviction to go outright short because the 10Y still has a look of a wave 4 correction in progress which leaves a potential for another rally later this year.