Gold has eventually tested (or better yet currently below) the #1,595.70 Support that I have been referring to since March #12, which is the symmetrical level from the September #24th High (Lower High of last year's downtrend). Gold easily dipped yesterday and almost touched #1,565.70 second strong Support. This is a strong Short-term Support level to consider and I expect the Hourly 4 chart to act accordingly and initiate a steady downtrend after today’s natural consolidation and not significant rise as an answer for yesterdays DX’s Bearish late session. Notice also that this is where (Lower High), Gold found Support during the May/June #2019 Bullish break out, and in a few days it made a new Bullish leg - I expect the same, just in other direction (Bearish). I spotted high chances of repeating that sequence. Hourly 4 chart is already stabilizing while the Daily chart is close to complete Neutrality indicating that profit from the recent bottom has been taken (I closed my set of Sells yesterday with decent Profits) and are again on Technical Sell levels. I'm on an additional Short-term set of Sells with #1,540.80 as my first Target. Other than that without any heavy Macro reports today, I expect a rather quite ranged session, unless Wall Street opens with positive DX gap which will add Bearish pressure on Gold. I remain Bearish on Short-term with DX chart as my main point of interest.
- 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.