It seems that gold is in the 5th wave of a rally that started on 28 February. We estimate that this golf could travel to nearly $ 3,100. If this happens, view the RSI values and see if it diverages from the RSI height of 85.
RSI -Divergency where the Golf ‘V’ RSI value is lower than the Wave ‘III’ RSI value. This is a common feature, especially if the fifth wave price is higher than the third wave price extreme.
If that is the case, this divergence appears when gold approaches almost $ 3,100, then it can indicate a fifth wave.
Wave ‘V’ does not have to stop at $ 3,100. Gold can stay higher. However, the symptoms would look like a temporary setback may have to relieve the overbough disorders.
As soon as the last print of Golf ‘V’ is in place, gold can go back to $ 2,900 – $ 3,000.
There is an alternative golf count that we are considering.