Technical analysis: Gold is currently being rejected just above the Higher High’s Higher zone trend-line of the Hourly 4 chart’s Ascending Channel that started with the May #15 Low's. Within that Channel, the Price-action (Xau-Usd spot) always tested the Support zone after strong local Top rejection, so assuming no further Fundamental news breakout (and DX doesn't make a new Low or Bond Yields (near #5-Month High’s) continue the rejection towards new Support break, I don't see why this Hourly 4 chart’s fractal won't get repeated. #3,277.80 - #3,285.80 would be a fair estimate. If however #3,352.80 benchmark gets invalidated to the upside, that would be a Bull breakout call towards the #3,362.80 (small chances for that configuration to develop subsequently). Gold is having Bearish Short-term sentiment however rejecting aggressively every local Low's attempt.
My position: #3,304.80 first Resistance delivered excellent re-Sell Scalp orders before Asian session (now traditional) local High's #3,332.80 test extension. As I noted on my remarks previous remarks, I will keep operating with my Buying and Selling orders from #3,292.80 - #3,332.80.
My position: #3,304.80 first Resistance delivered excellent re-Sell Scalp orders before Asian session (now traditional) local High's #3,332.80 test extension. As I noted on my remarks previous remarks, I will keep operating with my Buying and Selling orders from #3,292.80 - #3,332.80.
- 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.