Gold has been rising on very High volume same as on December #14. When I shorted #1,595.70, I expected prices below #1,540.80 as a fair value of Gold, but what kept Gold and pushed it up - my only legitimate explanation is Investors using Gold as a safe haven and parking capital in the metals. I miscalculated Short-term Gold trend as all correlating assets should be fully Bearish for Gold, but it keeps rising against all Technicals and without Macro-economic reports. I am carefully monitoring Gold throughout the day but it keeps smashing Resistances, but I am still certain in Bearish move since this is not fair Technical value of Gold. Last time Gold touched #1,655.70, it dipped to almost #1,480.70 - I am waiting for this Weekly close to see if the pattern will repeat itself or the breakout to #1,655.70 will lead to a new Top, which by my calculations will not happen. I will have more on today’s candle. Keep in mind that the medium term pattern on Daily is a Channel Down. I will wait for US session before making my move.
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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.
- 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.