Technical analysis: I have essentially nothing new to add on my previous outlook. Since the #3,352.80 break-out point was compromised, the Price-action Naturally spiked to the #3,392.80 - #3,400.80 Resistance zone mentioned on the previous commentary. Based on the #5-session Higher High’s sequence, this zone is the new local High’s (very possible that Price-action is pricing a Top here, temporary or not) and as both the Hourly 4 chart and Daily chart are Bullish to a very great extent and does not look so good for Sellers, I should Naturally expect a correction within #2-session horizon as Wall Street opening Bell could offer Low Volumed candles without of a much Price-action. The Technical answer is the Hourly 1 chart’s Support near #3,352.80 benchmark once again, which has been always touched after every Higher High’s rejection. Gold is kept Higher on pure Fundamental gradient and weak DX (on a parabolic downtrend). The turmoil with the Inflation in U.S. causing Investors turn to capital from riskier assets for protection (safe-havens in High demand such as Gold), thus causing Gold to gain value along with Tariff's.
My position: I am satisfied with catching correction on Thursday, currently I do believe Gold is near local High's and correction is due. #3,352.80 benchmark is my Target.
My position: I am satisfied with catching correction on Thursday, currently I do believe Gold is near local High's and correction is due. #3,352.80 benchmark is my Target.
- 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.