Gold's worst #1st Yearly Quarter in #39 Years
Gold's general commentary: Excellent sideways Price-action extension on the Hourly 4 chart as the emerging Rectangle Trading pattern is providing the safest framework for Scalpers only. The Hourly 4 Resistance has rejected the Price-action #3 times already (March #1, March #17, April #6) which gives an updated Selling range of #1,727.80 - #1,720.80 with a potential extension towards #1,700.80. I don't expect this week’s reports to be relevant. Slim chances though for Bearish rebound move as #1,727.80 preserved the Price-action. I can consider #1,743.80 and #1,753.80 as an ultimate Top zone, and I will Buy only if that zone breaks. However, Gold can spike up if Bond Yields don’t find the Support and engage more serious recovery, while #1,727.80 test will trigger my Selling orders.
Technical analysis: Interesting turn of events on the Short-term as Gold (Xau-Usd as always on my commentary) crossed Short-term Support on the Hourly 1 chart and crossed aswell #1 session Low, which resulted as an traditional Buying back the losses. This is an additional Short-term Selling signal similar to February #2 - #5 #2020 parabolic rise, which ended as an correction. The Daily chart needed consolidation (current dip Buying) and is again leaning on Bearish side than Neutral, as Gold is still ignoring the spiral downtrend on Bond Yields, following mostly losses on DX (taking strong hits) as Global Geopolitics dust rises, and as long those guide the market sentiment, further uncertainty on Gold is inevitable. Interesting fractal yet to be repeated on Bond Yields, where Price-action were Trading on impulse and reached the Top (March #11 - #18), engaged the Selling sequence, the again (March #25 - #30), engaged the recovery, while cycle is repeated and Bond Yields are currently on spiral downtrend. If cycle is to be repeated, Bond Yields should be Trading on aggressive impulse towards the Short-term Resistance, which can add enormous Selling pressure on Gold. It is dangerous to Buy Gold at the moment on any point since Bond Yields can skyrocket anytime and break Buyer’s intent and hit their Stop-losses. If Short-term Support breaks, Trading at #1,727.80, Gold can give one more downturn opportunity towards #1,700.80. Other than that, with U.S. announcements speculations (announcing the #5 month Plan policy), Gold can confirm the uptrend only with #1,753.80 break.
Gold's worst #1st Yearly quarter in #39 Years: Gold is consolidating around the Hourly 4 chart Rectangle, leaving my Bearish Short-term perspective literally unchanged, as the Higher Low’s trendline is still Supporting the uptrend. I still see #1,727.80 as a solid Selling entry with Gold looking weak and without major recovery, I will take the Selling opportunity market is offering once #1,727.80 breaks. Bond Yields are Trading in Neutral zone and DX seem to be showing the way of the new recovery, and without the idle FOMC news, I am looking for a decent chance for Gold to slip towards #1,700’s, and don't be surprised if Gold continues the consolidation candles for #1 session more. It is important to note that this is the worst Quarterly fractal for Gold in #39 Years.
My position: I will will be ready to Buy Gold and pursue upper Targets if #1,753.80 breaks (calling for #1,768.80), while Selling is only possible if #1,727.80 breaks (less chances on today's session).
Technical analysis: Interesting turn of events on the Short-term as Gold (Xau-Usd as always on my commentary) crossed Short-term Support on the Hourly 1 chart and crossed aswell #1 session Low, which resulted as an traditional Buying back the losses. This is an additional Short-term Selling signal similar to February #2 - #5 #2020 parabolic rise, which ended as an correction. The Daily chart needed consolidation (current dip Buying) and is again leaning on Bearish side than Neutral, as Gold is still ignoring the spiral downtrend on Bond Yields, following mostly losses on DX (taking strong hits) as Global Geopolitics dust rises, and as long those guide the market sentiment, further uncertainty on Gold is inevitable. Interesting fractal yet to be repeated on Bond Yields, where Price-action were Trading on impulse and reached the Top (March #11 - #18), engaged the Selling sequence, the again (March #25 - #30), engaged the recovery, while cycle is repeated and Bond Yields are currently on spiral downtrend. If cycle is to be repeated, Bond Yields should be Trading on aggressive impulse towards the Short-term Resistance, which can add enormous Selling pressure on Gold. It is dangerous to Buy Gold at the moment on any point since Bond Yields can skyrocket anytime and break Buyer’s intent and hit their Stop-losses. If Short-term Support breaks, Trading at #1,727.80, Gold can give one more downturn opportunity towards #1,700.80. Other than that, with U.S. announcements speculations (announcing the #5 month Plan policy), Gold can confirm the uptrend only with #1,753.80 break.
Gold's worst #1st Yearly quarter in #39 Years: Gold is consolidating around the Hourly 4 chart Rectangle, leaving my Bearish Short-term perspective literally unchanged, as the Higher Low’s trendline is still Supporting the uptrend. I still see #1,727.80 as a solid Selling entry with Gold looking weak and without major recovery, I will take the Selling opportunity market is offering once #1,727.80 breaks. Bond Yields are Trading in Neutral zone and DX seem to be showing the way of the new recovery, and without the idle FOMC news, I am looking for a decent chance for Gold to slip towards #1,700’s, and don't be surprised if Gold continues the consolidation candles for #1 session more. It is important to note that this is the worst Quarterly fractal for Gold in #39 Years.
My position: I will will be ready to Buy Gold and pursue upper Targets if #1,753.80 breaks (calling for #1,768.80), while Selling is only possible if #1,727.80 breaks (less chances on today's session).
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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.
