Currently on Sidelines after decent Profits

Price fluctuation and aggressive volatility came as no surprise after yesterday’s U.S. session opening which caused Stock markets to trade sideways and add unnecessary uncertainty on Gold which resulted as #23$ dip towards my Target. I have successfully closed my set of Sells with decent Profits yesterdays. Hourly 4 chart turned Bearish but Daily chart stayed Neutral, which may be hinting towards #1,705.80 again (as U.S. session approaches). I don’t think that Gold will continue Bearish leg today, but is surely Bearish on Medium-term. Although, if Gold breaks #1,675.80 (My original Target), Price-action will be calling for #1,647.80 extension. For Short-term again I have to point out that #1,675.80 is strong Support and Buy accumulation, but if broken, will result as an historic Gold’s devaluation. Yesterday’s Bearish Hourly 1 candlestick (Three Black Crows almost) is an indication of increased tension and negativity. At the moment investors place their capital on equity markets, which are on hard Resistance levels. Gold prices are still on late March/early April consolidation levels and historical regression analysis shows that when trading for long on those levels, aggressive Bearish direction comes. Besides this, nothing else supports the upwards argument since all Hourly charts are showing Bearish values. As I said, prepare for huge Volatility/rally on Gold with Bearish spikes all along. The price came flat on E.U. session today (as expected with #92% chances), with volatility projected to start two Hourly 4 Bullish candles before U.S. opening (what is happening at the moment). I will manage the risk carefully and wait another opportunity to add my new set of Sells. Remember, what was an Support, becomes a Resistance when broken and same rule applies for Resistances (becoming Supports). I am fully Bearish on Gold’s Medium-term. My estimation even shows #1,610.80 possibility (Long-term) if #1,647.80 is broken. Weekly chart regressions show that Gold should continue trading sideways for a few more weeks (aggressive Support and Resistance breaks). Stand by for my morning’s report. Sidelines until new Profitable pattern appears. Gold is Bearish on Medium-term.