Intermediate trend broke down and GOLD is trying to find support at the 50 day moving average.
Volume: The down days are getting much more volume then the advancing days which is a sign there is more selling pressure then buying pressure.
MACD: The momentum has been decreasing from mid October and currently we are crossing to the downside which can be interpreted as a sell signal.
Ultimate Oscillator: There has been a slight bearish divergence between the highs which further supports a top.
Conclusion: Watch the supports and see if they break down. Some technical are pointing for prices to go lower so be cautious putting in long positions and be ready to take some money off the table if you are already long.
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