Gold vs. XAU index

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Just marking up this chart with some divergences between the price of gold and the XAU index. I was surprised to see that the ATH of this index was one year ago and it's still within the .618 retracement. Bearish.

٢٠ أبريل ٢٠٢٣

ملاحظة

Did I say ATH? I meant previous high. The ATH was in 2011, when gold hit its previous peak. In fact that's another big divergence...