Selling order activated / Gold eyes #1,852.80 barrier
Gold's general commentary: The inability to get above #1,913.80 Resistance on the Hourly 4 chart along with the sharp fall on equities, are putting Gold (Spot price (Xau-Usd) numbers) under strong Selling pressure again. At the same time DX has made a new multi-Month High’s peak, and the fact that Gold followed the correlation (#1,882.80 and below), leads me to believe that Short-term correlation is not switched (Gold - DX / my main correlation and point of interests at the moment) and capital drawn from Gold is making Investors park their capital to Low risk assets such as U.S. Dollar which is soaring at the moment. DX Top rejection is preventing steeper fall and defending the #1,882.80 level comfortably. Same configuration suggests that as long as DX is Trading on High’s, while Bond Yields engages movements within Neutral Price-action Rectangle, Gold may kick-start an aggressive takedown.
Technical and Fundamental analysis: In any case, the Hourly 4 and Daily chart's Technicals suggest that if #1,877.80 breaks, I should be seeing #1,861.80 configuration next and #1,852.80 psychological barrier in extension. By my estimations, #1,848.80 - #1,852.80 is Gold’s Short-term stabilization zone and could attract Buyers at that point, but again the Profits on my Selling Medium-term orders (since #1,886.80 got invalidated once again) will be respectful as I won’t mind Buying pressure on #1,852.80 vicinity at all. As such, my advice would be to Sell Gold since #1,886.80 is tested and broken, with #1,852.80 as a viable Target, adding great value to Seller's intent. Regarding Fundamental part, there is interesting fractal to mention (as I receive many inquiries regarding my opinion for Gold's Long-term). Since Inflation chart is on ATH's currently, Money Stock charts attracted my interests. All Money Supply charts (#M-1, #M-2, #M-3) were stable (printing almost similar numbers Yearly) until U.S. Housing crash crisis at #2008, until then, gradually Fed started printing more and more cash (cash that actually had to be printed, not just made digitally out of thin air). Currently, since #2019 Year, chart is skyrocketing, especially MZM Money stock (printing mere #22,020 Trillion). This configuration actually means that government officials should be ready to print bigger and bigger Stimulus notes, not to prevent the disaster, just to postpone the final crash. Current Stimulus note was enough to cover current pre-crisis environment, but next need for Stimulus, number will be bigger greatly. With that being said, further Stimulus notes will just dig bigger and bigger hole for world’s economic affairs, and eventually, printing huge Stimulus won’t aid the economy. Regardless, traditional times that Traders are mentioning that Gold will rise when crisis kicks in, should be matter of history (as Gold should be way above #2,000.80 barrier at least currently). There are no more firm hedge assets and safe-havens, as Fed downplayed Gold Buyer’s intent (with Repurchase agreements, aswell on ATH), as Gold is headed to #52-Week Low’s and #1,588.80 and below eventually (Long-term). I am expecting #1,475.80 within #2-Year fractal.
My position: I engaged my Selling order with #1,886.80 as an entry point, Targeting #1,852.80 barrier in extension with my piercing set of Selling orders, ready to utilize Selling potential to it's maximum.
Technical and Fundamental analysis: In any case, the Hourly 4 and Daily chart's Technicals suggest that if #1,877.80 breaks, I should be seeing #1,861.80 configuration next and #1,852.80 psychological barrier in extension. By my estimations, #1,848.80 - #1,852.80 is Gold’s Short-term stabilization zone and could attract Buyers at that point, but again the Profits on my Selling Medium-term orders (since #1,886.80 got invalidated once again) will be respectful as I won’t mind Buying pressure on #1,852.80 vicinity at all. As such, my advice would be to Sell Gold since #1,886.80 is tested and broken, with #1,852.80 as a viable Target, adding great value to Seller's intent. Regarding Fundamental part, there is interesting fractal to mention (as I receive many inquiries regarding my opinion for Gold's Long-term). Since Inflation chart is on ATH's currently, Money Stock charts attracted my interests. All Money Supply charts (#M-1, #M-2, #M-3) were stable (printing almost similar numbers Yearly) until U.S. Housing crash crisis at #2008, until then, gradually Fed started printing more and more cash (cash that actually had to be printed, not just made digitally out of thin air). Currently, since #2019 Year, chart is skyrocketing, especially MZM Money stock (printing mere #22,020 Trillion). This configuration actually means that government officials should be ready to print bigger and bigger Stimulus notes, not to prevent the disaster, just to postpone the final crash. Current Stimulus note was enough to cover current pre-crisis environment, but next need for Stimulus, number will be bigger greatly. With that being said, further Stimulus notes will just dig bigger and bigger hole for world’s economic affairs, and eventually, printing huge Stimulus won’t aid the economy. Regardless, traditional times that Traders are mentioning that Gold will rise when crisis kicks in, should be matter of history (as Gold should be way above #2,000.80 barrier at least currently). There are no more firm hedge assets and safe-havens, as Fed downplayed Gold Buyer’s intent (with Repurchase agreements, aswell on ATH), as Gold is headed to #52-Week Low’s and #1,588.80 and below eventually (Long-term). I am expecting #1,475.80 within #2-Year fractal.
My position: I engaged my Selling order with #1,886.80 as an entry point, Targeting #1,852.80 barrier in extension with my piercing set of Selling orders, ready to utilize Selling potential to it's maximum.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) and Gold Trading school.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) and Gold Trading school.
- Trading Gold since #2012'.
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