This kind of negative divergence within the confines of daily Bollinger Bands are usually what you see preceding a significant drop...Note also the .604 retracement (Fibonacci retracement from last Gold rally at 936.30). Not shown, but ROC is also showing negative divergence...
I think Gold will be in a Bear market for a while yet...
Note the current logarithmic chart. the double tops are at .12177 and .12907, both around the .12500 node. With negative divergence I would expect deterioration...
2 comments:
Mark, I appreciate your work!
aaaaaaum,
Thanks!
Mark L.
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