This move is a reversal from the hour prior, which saw price move up.
This move is a reversal from the day prior, which saw price move up.
Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Of note is that the 50 day changed directions on w; it is now pointing down.
It’s been a feast for bears operating on an hourly timeframe, as w has now gone down 4 of the past 5 hours.
This is a reversal of the price action on the previous hour, in which price moved up.
NYSEARCA:GLD, NYSEARCA:IAU, NYSEARCA:SLV