Cash Gold- 240min & 30 min. We are on the green UMLP and at the confluence of a reaction line( the touch on the UMLP cannot get much better than this...look at the 240min chart) after what has been a meteoric rise in just over a week. This on it's own means nothing but this ML set has displayed good price activity around the centre line and at all previous reaction lines. We may still go higher but we already have Macd/RSI/CCI divergence( & the Stoch is flat at over 95) and the market is looking distinctly toppy to me. It's too early to go short and i am always very wary of selling short on the upper median line parallel in a up sloping median line set but there's a Mod Schiff 5 min ML i am watching as confirmation(see below).
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