Gold continues to dominate headlines, printing new all-time highs one after another
The 4-hour Bearish Divergence earlier failed to halt the rally
Now, a Bearish Divergence has appeared on the daily time frame, as the latest price high was not confirmed by RSI
This signals that a peak may be forming
A corrective phase could soon unfold as wave 4 within the larger wave (5) structure
The expected retracement could reach the 38.2–61.8% Fibonacci zone of wave 3 of (5), targeting the pink box between $3,700 and $3,900
The low of the previous minor wave 4, near $3,958, may serve as initial support during the pullback
It is worth noting that the magnitude of wave (5) so far mirrors that of the prior large wave (3)
Therefore, the projected target for the final wave 5 of (5) remains around $4,300 as a conservative objective
However, if momentum extends further, wave 5 could evolve into an extended move and drive prices toward new record highs beyond that level
The 4-hour Bearish Divergence earlier failed to halt the rally
Now, a Bearish Divergence has appeared on the daily time frame, as the latest price high was not confirmed by RSI
This signals that a peak may be forming
A corrective phase could soon unfold as wave 4 within the larger wave (5) structure
The expected retracement could reach the 38.2–61.8% Fibonacci zone of wave 3 of (5), targeting the pink box between $3,700 and $3,900
The low of the previous minor wave 4, near $3,958, may serve as initial support during the pullback
It is worth noting that the magnitude of wave (5) so far mirrors that of the prior large wave (3)
Therefore, the projected target for the final wave 5 of (5) remains around $4,300 as a conservative objective
However, if momentum extends further, wave 5 could evolve into an extended move and drive prices toward new record highs beyond that level
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.