I essentially have nothing to add as the start to this (Weekly) candle is almost flat. The pattern is a Descending Channel and only a crossing #1,500.20 can keep a sustainable downtrend on Hourly 5 chart, though the bullish reversal bias from this point is not in it's strongest effect like it was in previous days. The scalpers of Friday's suggested range should get their value in the early hours of the Asian session. I remain Bearish expecting #1,495.20 and #1,455.20 in succession. DX is virtually unaffected by the positive New Home Sales, which is bearish for Gold (so is the crash on the stock markets), and means that investors shift their focus on Wednesday's Pending Home Sales and Thursday's GDP numbers. This huge bullish leap on Gold is nothing more than a fundamental catalyst and does not effect our technical bearish perspective which should be visible from today.
- 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.