goldenBear88

Will engage my Buy orders shortly / if circumstances allow

Long
TVC:GOLD   CFDs on Gold (US$ / OZ)
Interesting turn of events on the Short-term as Gold crossed Weekly Resistance on the Hourly 4 chart and crossed aswell #3 session High priced at #1,896.20. This is an additional Short-term Bull signal similar to September #23 - #28 parabolic rise (from a Double Bottom). The Daily chart needed consolidation (current rise) and is again more on the Bullish side than Neutral, as Gold is still ignoring the strong trend on Bond notes, following mostly Stock markets and especially DX (taking strong hits) as Global Geopolitics dust rises / as long those guide the market sentiment, further rising is inevitable. I have nothing to add to my previous analysis (I saw how the Fundamental statistics were right giving Gold Buy Hourly horizon) and only if Monthly Support at #1,845.80 is broken, Gold can give one more downturn opportunity to #1,817.70. Other than that, with U.S. announcements speculations (announcing the #5 month Plan policy) I see no reason to Sell Gold. It appears that another efficient Short-term pattern is emerging in the form of Double Bottom on the Hourly 4 chart. Being Bullish, this gives another optimal opportunity within #1900.80 - #1,930.80 (Xau-Usd as always on my commentary). Right now the #1,900.80 psychological barrier is acting as the Resistance. Keep an eye on the DX if you want to take a Medium-term trade. I will patiently wait for a level to position my Buy orders eyeing #1,920.80. My last week's Profits were decent as I will try to do the same this week.

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