FX.co ★ Gold blow off top?

Gold price has broken above the bullish channel and has reached new short-term highs at $1,889. However the RSI is still not following price to new highs. Instead the RSI has made a lower high again. This is another bearish warning.

Blue lines- bullish channel

Although technically Gold price remains in a bullish trend, I prefer to be neutral at current levels as I expect a reversal towards the lower channel boundary at least. Gold price made another bearish divergence in the RSI and chances favor at least a short-term reversal despite the new higher high. Gold justifies another pull back towards $1,820.