Second Decent Profit on Scalps

Constant enormous Buying pressure on Gold as I booked decent Profits on Scalping position (#1,764.80 - #1,778.30) with decent #14$ difference. Tight session today and personally, I don’t think that current session can deliver anything important (Basic Bollinger bands Neutral movements). Gold remains strong on a near new Intra-day High but there are certain aspects that make me sceptical on whether or not this can be sustainable. Those are: Extremely strong Sell-off on Bond notes with the chart near the October Support. In addition to that the DX has reversed Intra-day and is near a #4 day High. Stock markets are also near their #4 day Support. Based on the above, Gold (Xau-Usd on my comments) shouldn’t be above its #1,766.80 Medium-term Resistance and every rise should be sold regarding Price-action. The RSI both on the Daily chart and Hourly 4 chart is showing Bearish values at it's best. However, we the Covid-19 toll rising, I won't be surprised to see a very negative week on Stock markets, which would be Bullish for Gold and pause the downtrend. If #1,766.80 holds also today (closing below), tomorrow I will engage my set of Sells with #1,737.80 Target and Daily chart #MA50 #1,717.80 extension since personally, I think that Buying pressure on Gold is near completion (Gold used as an Safe-haven) as Investors will withdraw their capital from Gold into more riskier assets. My advice would be to wait for the right opportunity to add Sells and that's definitely not now or on closing. Final Resistance got compromised and if Gold closes today above it, it is sign of Bullish continuation (Channel Up), if not, everything is ready for Bearish setup. Personally, with RSI near Yearly Resistance and Stock market in recovery attempt, I doubt that Gold will rise more. Friday's Gap is filled, Daily chart got the necessary Technical correction as I should be seeing a continuation of the downtrend back towards the Daily #MA50 (#1,717.80). That would be on any other occasion however as due to the Covid-19 panic market is not under normal conditions. This is obvious as Stock markets are Trading on Lows and Bond notes are on a spiral downtrend. This adds more Buying pressure on Gold on Short-term. In my opinion Stock markets are they key, if they extend their recovery (and DX makes its first Bullish Daily candle) Gold will follow its Technical Bearish course towards Fair price (Medium-term). Otherwise it will have to be postponed until next week. I will not engage any more Positions of both kinds (Medium-term or Scalps) and will be waiting for Medium-term opportunity. Remember, the more Gold rises, the steeper correction will be. If Support breaks happens Intra-day, I won't hesitate to engage my Selling sequence even today.