Technical analysis: Nothing irregular at the moment on the Short-term as Gold (Xau-Usd Spot) continues to Trade on Buying extension taken from local Low's Bullish accumulation within #3,370’s zone with clear Resistance point, and Support levels / ready to deliver the breakout I was after. I highlighted many times recently that every / more serious decline may represent Buying accumulation towards new ATH's. The underlying Medium-term trend is still Bullish, so if the Intra-day Low breaks throughout today’s session, then I expect another run towards the #3,400.80 benchmark / Higher High's Upper zone and possible benchmark extension. One important difference though: the Hourly Moving Average broke and for the first time in #3 sessions Gold was testing it from below as a Resistance (this was needed to break again to comfort Buyers). However, if (November #4 - #9) / (January #1 - #6) (January #20 - #25) variance is yet to be repeated, Gold finished the same pattern (Trading on such configuration) and now should engage the aggressive decline once local High's are met.
My position: My practical suggestion is to Buy every dip on Gold.
My position: My practical suggestion is to Buy every dip on Gold.
- 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.