Gold remains heavily pressured on a #1 Day basis as #1,698.80 rejection resembles January #21 Hourly 4 Resistance, making more and more Investors spotting Bearish Gold sentiments and slowly starting to withdraw their capital from Gold and parking it to more riskier assets (Stocks, Equities). The price is approaching the #1,688.70 point again as I am expecting the first signs of Support at #1,680.80. If #1,680.80 breaks then the #1,648.80 February #18 Low will be tested. Gold is trading within my predicted values with big Volatility (ADX #27.80), nothing out of the ordinary nor cause for alarm. The Hourly 4 chart remains a Descending Channel so every Bullish spike is sold to a new Lower High - which means that Medium term trend is Bearish as I will treat every Bull spike as an Sell opportunity. It is important to understand that despite the heavy Selling pressure by correlating assets (U.S. bonds near 3 month Support and expected to rise, U.S. stocks on All Time Highs recovering every dip, DXY on a new uptrend), Gold failed to hold its #1,680.80 Support Zone on the Daily chart as I've been mentioning in recent days, revealing its underlying Bearish trend. My Targets remain unchanged.
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- Few other un-official channels are not mine, they are copies using my real information (impersonating me and my work / identity) so keep that in mind and beware of those.