Technical analysis: Another strong Bullish Daily chart candle succession (# +3.87% so far) with non-stop uptrend on Hourly 4 chart's Ascending Channel testing the last Resistance before an aggressive Gap fill above #2,300.80 psychological benchmark. DX was on the #2nd straight Bullish Daily chart's candle however Gold remains disconnected from main correlation instrument such as DX which is not applying Selling pressure on Gold (Gold still don't have intention to level critically Overbought levels) but the most important Bearish factor at the moment (among many) is the relief on global geopolitics and Inflation skyrocketing which will cause risky assets to gain and Gold to lose. This shows how overpriced Gold is due to current Fundamental outside factor which is delivering unfair Bullish extensions on recent multi-Month Bullish leg. Gold is being kept on High levels despite DX’s Bullish action.
Fundamental analysis: Gold didn't capitalized throughout Asian session, especially on Hourly 4 chart as miraculous recovery on DX and on other correlating instruments is not recognized on Gold's Price-action (showing wide disconnection almost on all charts). DX was rising as well on a firm green engulfing candle, however regardless what the outcome is on U.S. data, Gold is soaring aggressively on the aftermath. Yesterday's session JOLT's announcement delivered numbers greater than the forecast (which is seasonally strong Selling opportunity on Gold) however Gold tested record High's on the aftermath indicating elemental Volatile non-stop Buying sequence on Gold (filled with aggressive Bullish spikes out of nowehere). However it is very important to mention that huge correction on Gold is ahead where I do have #300 - #350 point Selling sequence to utilize which is great news for Gold Sellers.
My position: I have managed to re-Sell Gold nicely throughout yesterday's session and engaged new Selling order with #2,275.80 entry point. If Hourly 1 chart's trendline gets invalidated and Ascending Channel breaks to the downside, #2,252.80 will be filled within few Hours on the break aftermath. I am Highly satisfied with my Selling orders operation and excellent returns even in aggressive Bullish market such as current one.
Fundamental analysis: Gold didn't capitalized throughout Asian session, especially on Hourly 4 chart as miraculous recovery on DX and on other correlating instruments is not recognized on Gold's Price-action (showing wide disconnection almost on all charts). DX was rising as well on a firm green engulfing candle, however regardless what the outcome is on U.S. data, Gold is soaring aggressively on the aftermath. Yesterday's session JOLT's announcement delivered numbers greater than the forecast (which is seasonally strong Selling opportunity on Gold) however Gold tested record High's on the aftermath indicating elemental Volatile non-stop Buying sequence on Gold (filled with aggressive Bullish spikes out of nowehere). However it is very important to mention that huge correction on Gold is ahead where I do have #300 - #350 point Selling sequence to utilize which is great news for Gold Sellers.
My position: I have managed to re-Sell Gold nicely throughout yesterday's session and engaged new Selling order with #2,275.80 entry point. If Hourly 1 chart's trendline gets invalidated and Ascending Channel breaks to the downside, #2,252.80 will be filled within few Hours on the break aftermath. I am Highly satisfied with my Selling orders operation and excellent returns even in aggressive Bullish market such as current one.
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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.