Gold is about to get a lot of sell signals from different indicators. Last week we share a post about RSI (Relative Strength Index) and RMI (Relative Momentum Index) RSI already gave a sell signal and RMI is about to. Today we will talk about MACD, but not normally the original signal but difference from its signal moving average. MACD and MACD Signal which its 9-week moving average wander off when prices surge too much in too little time. MACD is normally a trend indicator but the spread of MACD and MACD signal can be defined as an oscillator like RSI. It gave signals early, sometimes too early because they came during strong trends. For the gold, indicators show reversal signals from around +20 and -20. Since 2011 it gave 5 signals including last year’s top and 4 of them worked with %23 falls on average. The indicator also gave a lot of meaningful bug signals. As said earlier before, this indicator is giving signals early but gold bulls should be careful about their positions, at 1922 or higher resistance levels because a short to medium-term reversal may be closing in.
