Large Weekly Reversal Candle in Gold

From tickmill.com

Following an impressive 33% rally this year so far, gold prices are showing signs of topping out near-term. The futures market has reversed sharply from YTD highs with the weekly chart showing a large bearish reversal candle. With bearish divergence seen in momentum studies on the daily timeframe, the technical picture is suggesting room for a correction lower. But what’s driving the move on the macro side? There has been a broad shift in investor sentiment this week as a result of a softer tone from Trump on China. Trump signalled earlier in the week that tariffs on China would likely soon come down, expressing ... (full story)