Technical analysis: As my #2,918.80 - #2,922.80 mentioned Support zone got invalidated, such development attracted Short and Medium-term Sellers and Gold is now delivering excellent re-Sell opportunities which I am so far utilizing. Gold has hit and reversed near the #2,920’s local peak / High's, which is currently posing as an Short-term Resistance zone. I spotted necessary consolidation on Daily chart after the latest #2,900.80 psychological benchmark break-out rejection (in the same manner representing last session Low’s and Support which currently have been invalidated), in a candle sequence that resembles the sideways movement from February #3. This suggests that Technically, Hourly 4 chart can’t stay Neutral anymore and should turn Bullish or Bearish, picking a side and revealing major move any moment due to the Bullish Fundamentals and now on Bearish Technicals readjusted over-night. This slowdown on Bullish side regarding Daily chart is also an indication that the Intra-day correction process is near the completion, as that the Weekly chart (#1W) is charging Medium-term Bearish reversal. I have mentioned importance of #2,918.80 - #2,922.80 Support break-out where Buyers didn’t spotted Profitable pattern and their focus on DX is greatly Higher than before. Keep cross-checking with DX also as Price-action below current one invalidates Bullish Short-term potential and reversal attempt. Since #2,918.80 got invalidated to the downside and Gold didn’t managed to recover above the level, I have been Selling Gold last #2 sessions with #2,918.80 and #2,900.80 as my precise re-Sell points. This is Bearish day so far on Hourly 4 chart (with #2 minor spikes upwards spikes) which raises no further need for analytical approach than what I’ve already done as I lean more to the Selling side. Since #2,892.80 Support got invalidated, I have Sold Gold on spot (#2,892.80 entry point) with #2,872.80 as my optimal Target. Gold may test #2,918.80 Support now turned in Resistance only if #2,892.80 - #2,900.80 newly formed Resistance zone gets invalidated to the upside. Keep Selling every High’s on Gold since every local High’s rejection is now re-Sell opportunity.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.