Click on all images for a larger imageThe question on the weekly chart is still whether or not prices are forming a double top. To that end we clearly have a second top forming and a weaker RSI reading on the second top -- although the MACD is still rising. Also note the 10 and 20 week EMAs are still moving higher as well which is also bullish.
On the daily chart, prices are right at a trend line. In addition, prices are now below all the EMAs and the MACD has given a sell signal. In addition, the RSI is dropping.
There are cracks forming in all the charts, but there has not been a definite price move lower. That is the main thing the bears need right now. There are several reasons to set-up into a bearish position but then it's a waiting game.
