Gold, NOT LOOKING GOOD {zoomed in}

I recently made a chart on gold and how it's showing weakness on the yearly chart. here is a look zoomed in on the monthly. even here it's showing plenty of weakness with RSI and once again showing bearish divergence.

Thanks for looking.

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Gold broke support, it fall to the next support level. Time frame? not sure.

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Reversal soon?

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Gold reversed above the resistance line and is now trying to make it support. If it is successful, then it will most likely gain more momentum up. If it doesn't hold support then this move could be a fake out and will fall further before building it's structure to it's next bullish move. Next year will tell us much more.

评论:

If gold closes the month right here @ $1980 or so, it would be the highest monthly close in it's history and it would be bullish.