Will the gold continue to break historical records?
For the next close days, I'm bullish on the Gold: there are still some buying volumes+ more than breaking the historical high in 2011, the gold broke the history line (orange line). So the market can go find the 78.6% Fib Level (2135), and correct after it.
However, the last weekly candle is showing a long upper shadow, which means that sellers are here (or ancient buyers are taking profits), so a correction is expectable due to the sharp increase of the market. Moreover, a negative divergence is observed in the RSI, so a correction may be approaching.
Let's focus on the volumes!
However, the last weekly candle is showing a long upper shadow, which means that sellers are here (or ancient buyers are taking profits), so a correction is expectable due to the sharp increase of the market. Moreover, a negative divergence is observed in the RSI, so a correction may be approaching.
Let's focus on the volumes!
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