$Gold $XAU = Big Bear Alert = 22.02.2022 #GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #ElliottWave

Today the daily RSI broke down from the overbought area and gold formed a bearish candle. If the candle confirmed in the next few days, buckle up for a ride. The previous 4 occasions led to prolonged declines averaging 12% off the tops. The chart says it all.

Gold bulls beware, and please don’t tell that it came as a surprise.

The weekly analysis and long term forecast:

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