Bearish diververgence. Sell in May and go away

25 Nis 2020

I think gold is going down below 1700 next week. Looks like bearish divergence on the hour chart, plus lower highs, lower lows and a doubletop. On top of that the end of the month sell off and May is typically not a good month for gold.

Fundamentals are confusing the technicals so I'm sitting on the sidelines next week or at most scalping.


Good luck!