With US markets closed today Gold futures retreated a bit, battling with their daily 200MA. Notice the re-sell signal of last Thursday on the second chart. It looks like Gold has found its resistance again.
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Hidden negative divergence in XLF, Gold battling with daily 200MA
While TrendXplorer still has XLF in an uptrend, it is showing hidden negative divergence (see chart). The lower high in price (a hanging man doji) was accompanied by a higher high in momentum and last Friday momentum was waning again. This concurs with the weakness stocks are showing at the moment. Prices stalled and the new buy signal in NDX (not shown) was canceled by a red square (see Trading the Trend for explanation)
With US markets closed today Gold futures retreated a bit, battling with their daily 200MA. Notice the re-sell signal of last Thursday on the second chart. It looks like Gold has found its resistance again.
With US markets closed today Gold futures retreated a bit, battling with their daily 200MA. Notice the re-sell signal of last Thursday on the second chart. It looks like Gold has found its resistance again.
