{"id":52500,"date":"2020-07-20T08:00:47","date_gmt":"2020-07-20T12:00:47","guid":{"rendered":"https:\/\/www.ino.com\/blog\/?p=52500"},"modified":"2020-07-19T17:44:41","modified_gmt":"2020-07-19T21:44:41","slug":"gold-and-silver-could-diverge","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2020\/07\/gold-and-silver-could-diverge\/","title":{"rendered":"Gold And Silver Could Diverge"},"content":{"rendered":"

At the beginning of this month, I shared a warning alert<\/a> as the silver chart had a Bearish divergence. The trigger was set below 50 on the RSI. It wasn\u2019t activated, and gold and silver moved higher. Moreover, silver finally hits the target. The majority of readers kept a bullish outlook and got it right. <\/p>\n

I prepared an update for you with the bonus chart at the end, so stay tuned. <\/p>\n

Let\u2019s start with the daily gold<\/a><\/strong> chart.<\/p>\n

\"Gold<\/a><\/p>\n

Gold is slowly moving to the upside. It hasn\u2019t shown any bearish signs as of yet. The metal finally elevated above the top of the preceding large consolidation beyond $1766 (black dashed line), eliminating the option of another leg down within an even more extended consolidation. <\/p>\n

On the 8th of July, the price hit a new multi-year high of $1818. Then the progress stalled with see-saw moves inside of a minor consolidation between $1818 and $1791 (orange ellipse). The RSI sub-chart also shows the zigzag down of a limited amplitude. I built the blue uptrend channel through the valleys of March and June. We can see that the price is crawling on the back of trendline support. Last Friday, the gold bounced off that support. Watch for the RSI to stay above 50 if another leg down appears.<\/p>\n

The target<\/a> was updated a month ago<\/a>. The C point remained intact, and so did the target of the D point at $1968. The all-time high level of $1921 could be strong resistance on the way up.<\/p>\n

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Where do you think gold will go?<\/strong><\/p>