Technical analysis: The #3,022.80 - #3,027.80 Support zone was finally crossed (on aggressive manner, healthy break-out to the downside) as Gold was Technically ready / equipped to deliver more serious correction as Short and Medium-term Buyers took their Profit which resulted as an #3,000.80 psychological benchmark test and almost #2,998.80 contact point extension. Weekly (#1W) candle (# +1.20%) remains on gains with current session on the second strongest Selling Volume of the Year. Despite the Higher High’s local Low’s test, it is clear that on local Low’s / Bottom tests and eventual rejections (Gold tends to reverse aggressively each time Bottom is Priced in), Gold undergoes a consolidation phase with equal demand and supply, which according to previous models is a Support / Bottom preparation for the next Higher High’s Upper zone extension. This will be essentially a Higher High’s extension on newly formed Hourly 1 chart’s Ascending Channel validating my expectation of new Bullish Trading range on Low pace for the next #1 - #3 sessions. Take advantage of the Higher High’s local Low’s given within this Bullish cycle and Profit on Buying orders using wide time-frames for reduced Risk.
My position: I do expect Gold to continue Buying every dip as I will use my re-Buy points for Intra-day Profit.
My position: I do expect Gold to continue Buying every dip as I will use my re-Buy points for Intra-day Profit.
- 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.