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Hidden Divergence in GOLD + Consolidation in Prices

Hidden Divergence in GOLD + Consolidation in Prices

From a long-term point of view, the GOLD is ranging in what seems to be a triangle, due to lower highs since the boom in prices in August 2020 and higher lows, which allows the gold to be in an up-trend. This behavior is due to the recent crisis that turned investors to turn to commodities such as gold , considering it as a safe investment against inflation and crises in general.
Now, what will the market do?

From a technical point of view, we assist a hidden divergence in the RSI as highlighted in the graph + a beautiful triangle is forming, it all depends on the breakage of this triangle (either from top or bottom)

IF FROM TOP: we will certainly reach the all-time highs (see the green horizontal line).

IF FROM BOTTOM: the prices will range among the previous range (see the blue rectangle ) and depending on volumes, we will discuss the results.

Keep an eye on the VOLUMES, they! make the market move, not prices.

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