Technical analysis: Double rejection on #3,257.80 - #3,265.80 former Medium-term Support belt (now turned in Short-term Resistance) has proved to be the upside barrier for Gold and the Bear cycle of #Q2 now continues. Daily chart should Technically deliver #3,211.80 Support test, as the Descending Channel has aggressively invalidated almost all Lower levels. The expected #3,227.80 contact point test came earlier so the Price-action should now either move straight to #3,200.80 benchmark or gradually rise once again within Neutral Rectangle before declining again. Regardless of the outcome, as I mentioned on my remarks regarding the Short-term where Descending Channel is very strong and decisive to engage multi-Week Bearish cycle on Gold ahead (which is already taking part).
My position: If you took my #3,252.80 reversal signal you should already close your order within #3,222.80 - #3,227.80. Gold would be significantly Lower if there is no parallel Buying pressure from DX taking strong hits.
My position: If you took my #3,252.80 reversal signal you should already close your order within #3,222.80 - #3,227.80. Gold would be significantly Lower if there is no parallel Buying pressure from DX taking strong hits.
- 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.