Fundamental analysis: Gold continues to be utilized as a safe-haven as the Stocks and DX are suffering significant losses on geo-political uncertainties and Tariff's outcome. However as before, I am making use of the DX as my key indicators to suggest the underlying trend for Gold, which remains fully Bullish, as the DX made a solid Technical local Low today and dipped strongly, assisted also by JOLT's numbers missing the forecast. As I determined the trend, every dip on Gold for me represents excellent Buying opportunity as I will stick to this strategy for full Profit maximization even though Gold is extremely Overbought. I expect Gold to just maintain this momentum, so that by tomorrow's session Gold should reach #2,882.80 - #2,892.80 hard Resistance zone. Gold is currently consolidating as the DX pulled back ahead of this week’s macro events. Investors are probably pricing in the worst case scenario of those missing on their forecast. This doesn't change my Bullish perspective with both Short-term Targets. With both Daily and Weekly (#1W) currently strongly Bullish, it is important for Buyers that February Monthly (#1M) candle close in green in order to avoid a Bearish two candle sequence. These calculations are for my Long-term strategy for the next quarterly leg-upwards above #2,900.80 benchmark. Day (Intra-day) Scalpers consider the Ichimoku pullup and Keltner consolidation.
My position: Even though Gold was ready for small correction within #2,815.80 - #2,822.80 before rally continuation and more gains on Gold, Gold ignored such Technical development and invalidated my #2,831.80 Resistance zone where I Bought Gold and still hold my orders. #2,882.80 - #2,892.80 is my ideal Target zone before stagnation zone.
My position: Even though Gold was ready for small correction within #2,815.80 - #2,822.80 before rally continuation and more gains on Gold, Gold ignored such Technical development and invalidated my #2,831.80 Resistance zone where I Bought Gold and still hold my orders. #2,882.80 - #2,892.80 is my ideal Target zone before stagnation zone.
- 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.