Sell order active / #2,000.80 benchmark near

Technical analysis: Gold was once again gradually rising on Low Volume Hourly 4 chart’s candles, neutralizing the Monthly change of the past few sessions (was on merely # +2.03%). The session High’s on Hourly 4 chart was rejected by an Advance Block Bearish reversal pushing back the Price-action within Neutral Rectangle even below, but still above the #2,000.80 - #2,005.80 Medium-term Support zone, optimal for additional Intra-day Buying opportunity which can arise on early E.U. session on Monday if fractal disappoints Sellers (Bullish spikes counterbalanced last week’s aggressive Selling sequence). As long as #2,000.80 Support is holding at all costs, expect Bullish spikes as Price-action will always be pressured to test Resistance in extension, keeping the Bullish Short-term bias alive. Based on this assumption and my Technicals, #2,052.80 - #2,062.80 should represent Ultimate Top for the fractal and possible rejection there should put Gold’s Price-action under heavy pressure. I am gradually aiming for #1,982.80 extension if #2,000.80 benchmark gives away.


Fundamental analysis: Gold has broken the Hourly 4 chart’s healthy Ascending Channel and altered the #6-session Buying spree on Gold. As Gold didn’t recovered Resistance belt on one try / hit after Intra-day decline throughout yesterday's session, Selling continuation is on the cards, with today's #2,014.80 - #2,020.80 being the Lower High's Upper zone which, if broken can continue the relief rally, otherwise Gold is timed for a downswing. Of course much is attributed to the ongoing #1.7 Trillion planned infrastructure spending whose late optimistic developments (deal hopes) are now pulling the Price-action back downwards (assisting downside aswell the debacle on recent report). I have the next Support at #2,000.80 where the Price-action should meet the Lower High's Lower zone (many similarities with May #9, last Year's fractal) and continue the decline towards #1,982.80 pressure point. I expect my Target to be realized on early next week phase if Resistance zone is preserved and chances are High that it will as Hourly 4 chart on DX is on excellent Bullish structure (will break Quadruple Top's most likely) applying Selling pressure on Gold. Daily chart’s Descending Channel is preserved, indicating that Gold may remain heavily pressured unless miraculous recovery is staged.


My position: I have engaged Selling order with #2,010.80 as my entry point, optimal Target remains #1,982.80 extension. If #2,000.80 benchmark rejects the Price-action and order does not deliver results, I will certainly go on weekend break without any orders implementing my Risk management.