Gold on Neutral valuesTechnical analysis: Hourly 4 chart has turned Neutral again as the Price-action pulled back from yesterday's session High’s, testing again the Hourly 4 chart’s #3,202.80 - #3,208.80 configuration which represents Short-term Support cluster. This move is due to the sudden spike on DX as the DX is moving in favor of Gold (falling) and is about to correct the former Bearish Gap fill which is appearing as a dangerous sign for Short-term Gold’s Sellers. This is a Fundamental market reaction to the High impact end of the week news and DX Trading near local Low’s. I don't expect this pullback to last for too long, this was Technically an Selling opportunity. If one seek for more confirmation, then Selling only after #3,200.80 benchmark gets invalidated which is looking as an optimal opportunity. This shows that big Institutional capital speculate on the same strategy I apply, taking Profits on Low’s of the Descending Channel, causing Bullish spikes, which they later Short.
My position : I have Bought #3,235.80 reversal #2 times throughout yesterday's session / taking Profit on #3,242.80 - #3,245.80 belt and awaited #3,227.80 break-out which delivered decent Selling opportunity. If you Traded my break-out zones throughout yesterday's session you should be in decent Profit by now.
