TIME TO TEST PERFECT LOOKING BEARISH DIVERGENCE
current gold outlook seems a textbook case study of Dr. Alder's bearish divergence.
when price reaches a new high but MACD histogram reaches a lower high, and starts declining after a zero line crossover its a perfect divergence. as tops take more time to form compared to bottoms so we may expect price testing 2048 again before falling below 2000 mark.
Price has made a false breakout and broken down a 2 monthly ascending channel but still respecting the lower support line of 4 monthly ascending channel, once broken, gold may fall to 1800
when price reaches a new high but MACD histogram reaches a lower high, and starts declining after a zero line crossover its a perfect divergence. as tops take more time to form compared to bottoms so we may expect price testing 2048 again before falling below 2000 mark.
Price has made a false breakout and broken down a 2 monthly ascending channel but still respecting the lower support line of 4 monthly ascending channel, once broken, gold may fall to 1800