goldenBear88

Irregular movements on Gold

Short
TVC:GOLD   CFDs on Gold (US$ / OZ)
Technical analysis: As expected, Ascending Triangle on DX broken to the upside, and touched #52-Week High, which should practice enormous Selling pressure on Gold which I am waiting for more than #11 sessions, but Gold keeps ignoring it and Trades un unprecedented Volatility. No changes on the Daily perspective as the Price-action remains ranged above the Hourly 4 chart #1,750.80 Support and below the #1,778.80 Resistance. As the market is waiting for a major move, I see no alternative under such a neutral Hourly 4 setting but to continue operating with my set of Selling orders within the suggested range. There is a delicate balance of Gold's Price-action (Xau-Usd Spot prices) with the Volatility on Usd-Jpy and DX (both going Higher throughout yesterday’s session) and Bond Yields on Higher High’s (which are struggling to extend the uptrend, but they are less important at the moment). Speculators are the main reason what is keeping Gold Neutral but on Bearish gradient relative to last week. I see no further upside behind current Gold’s Buying response and will carefully monitor what today’s U.S. session will bring. It is huge absurd regarding what is happening at the moment on Gold, as #4 out of #4 times Gold ignores correlating assets and in contrary, rising against all Technical rules. I will continue to utilize strict Risk management to protect my capital, as next opportunity will be used near or below #1,750’s belt. I assume no positions for now, as I am not interested in Buying on both Short and Medium-term.


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