Technical analysis: Gold is extending the sideways action, following the continuation of the former Hourly 1 chart’s Ascending Channel, as Bond Yields and DX are Trading on losses for the #2nd straight session (DX comfortably Trading below the Hourly 4 chart’s Resistance zone and Bond Yields on spiral downtrend), current environment is certainly (Fundamentally) Gold friendly (should spike upwards) and even with Bearish Technicals aiming for #3,327.80 Support extension or below, Buyers are always appearing and Gold printed miraculous recovery even though DX (strongest correlation at the moment) is comfortably Trading below the Resistance zone which is confirming my thesis that Bullish (at least for Gold) Fundamentals are here to stay. Spot how Gold's strong Selling level of the #3,362.80 - #3,372.80 one is far from fair symmetrical manner with disastrous side Swings on DX as the strongest correlation so far. Gold should be Neutral / Bearish on Short-term, but Gold is well known as relief asset (should soar as relief) with Inflation rising and Money supply chart’s maxing the ATH is DX losing with every candle, Gold can be timed for upswing anytime.
My position: I have Sold Gold throughout yesterday's session from #3,370.80 session High's, and once again from #3,360.80 towards #3,352.80 benchmark. I was aware that this morning's dip towards #3,342.80 will continue unless #3,348.80 and #3,352.80 benchmark are recovered, now as those got invalidated to the upside, Bullish Short-term trend is restored as I aim #3,400.80 benchmark.
My position: I have Sold Gold throughout yesterday's session from #3,370.80 session High's, and once again from #3,360.80 towards #3,352.80 benchmark. I was aware that this morning's dip towards #3,342.80 will continue unless #3,348.80 and #3,352.80 benchmark are recovered, now as those got invalidated to the upside, Bullish Short-term trend is restored as I aim #3,400.80 benchmark.
- 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.