Sell active / Thin Volume

Technical analysis: Friday’s session (Intra-day basis) showcased how sensitive Gold has become prior to reactions to High impact macro-economic announcements, where far from disappointing U.S. numbers instantly forced main correlating asset DX towards the Support (Bearish Gap fill) where it was rejected and instantly Bought back, however Gold extended it’s Neutral run by #10 + - points towards U.S. session opening Bell. PCE didn’t missed their estimate and in addition had widely negative effect on Bond Yields (my second correlating asset by importance) and pushed the Price-action back below #3.500 barrier. That was the messenger that Gold relies currently on Fundamentals more where Technicals are not immediately applied on such Volatile sessions. Information which got my attention was economical outcome (Forecast vs Actual) that CESI (Citigroup Economic Surprise Index) is currently in very reddish zone (#22.50% average / mark) which is near Lowest point since #2020 Year which gives me a hint that very likely upcoming economical reports will reveal mixed numbers than forecasted. However, Gold is still in Bearish territory as long as #2,000.80 Resistance holds as I will give less or no attention to Buying potential. Price-action is consolidating, isolated within #1,980.80 - #2,000.80 zone which is basically the Hourly 4 chart’s period / High Volatility belt which validates this consolidation. Current Trade developments near Support fractal is one of many indications (also the Monthly candle closed in gains (# +0.91%) suggesting that the Price-action still hasn't marked a Bottom on the current Bearish Hourly 4 chart’s setting). Sellers may find great value in next couple of signals which this week may bring as I am expecting Price-action soon to make a move towards #1,952.80 psychological benchmark.


My position: Overall, Hourly 4 chart remains isolated within Neutral Rectangle however Intra-day holds some Selling bias / as I can afford the risk I have engaged Selling order with #1,981.80 as my entry point, #1,952.80 benchmark remains optimal Target. Trade with caution as London session is closed and expect thin Volume to follow and implement strict Risk management.