Bulls are fighting to push gold higher but it seems like they still need more strength.
Could get that by letting bears take over and create a positive divergens on the daily RSI and at the same time making a double bottom. That's one scenario. Letting price making lower low could also be a possibility. (Always) :)
Argument for making a flat:
Wave 2 was quick, easy and gone in no time. That fits well with a long time consuming corrective 4th wave.
Indices are testing cliffhanger support and might bounce soon for creating a ED. That could be the "excuse" for gold to fall and making the divergens.
Time will tell... as always.
Safe trading ladies and gents!
@BLawrenceM
Could get that by letting bears take over and create a positive divergens on the daily RSI and at the same time making a double bottom. That's one scenario. Letting price making lower low could also be a possibility. (Always) :)
Argument for making a flat:
Wave 2 was quick, easy and gone in no time. That fits well with a long time consuming corrective 4th wave.
Indices are testing cliffhanger support and might bounce soon for creating a ED. That could be the "excuse" for gold to fall and making the divergens.
Time will tell... as always.
Safe trading ladies and gents!
@BLawrenceM
