Gold delivering excellent re-Sell opportunities

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Technical analysis: As my #2,918.80 - #2,922.80 mentioned Support zone got invalidated, such development attracted Short and Medium-term Sellers and Gold is now delivering excellent re-Sell opportunities which I am so far utilizing. Gold has hit and reversed near the #2,920’s local peak / High's, which is currently posing as an Short-term Resistance zone. I spotted necessary consolidation on Daily chart after the latest #2,900.80 psychological benchmark break-out rejection (in the same manner representing last session Low’s and Support which currently have been invalidated), in a candle sequence that resembles the sideways movement from February #3. This suggests that Technically, Hourly 4 chart can’t stay Neutral anymore and should turn Bullish or Bearish, picking a side and revealing major move any moment due to the Bullish Fundamentals and now on Bearish Technicals readjusted over-night. This slowdown on Bullish side regarding Daily chart is also an indication that the Intra-day correction process is near the completion, as that the Weekly chart (#1W) is charging Medium-term Bearish reversal. I have mentioned importance of #2,918.80 - #2,922.80 Support break-out where Buyers didn’t spotted Profitable pattern and their focus on DX is greatly Higher than before. Keep cross-checking with DX also as Price-action below current one invalidates Bullish Short-term potential and reversal attempt. Since #2,918.80 got invalidated to the downside and Gold didn’t managed to recover above the level, I have been Selling Gold last #2 sessions with #2,918.80 and #2,900.80 as my precise re-Sell points. This is Bearish day so far on Hourly 4 chart (with #2 minor spikes upwards spikes) which raises no further need for analytical approach than what I’ve already done as I lean more to the Selling side. Since #2,892.80 Support got invalidated, I have Sold Gold on spot (#2,892.80 entry point) with #2,872.80 as my optimal Target. Gold may test #2,918.80 Support now turned in Resistance only if #2,892.80 - #2,900.80 newly formed Resistance zone gets invalidated to the upside. Keep Selling every High’s on Gold since every local High’s rejection is now re-Sell opportunity.

Feragatname

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