As discussed: "Gold is bound to give one more Lower Low test near #1,827.80 and #1,818.80 Medium-term Support, while breaking it can engage the #1,795.80 sequence, and turn Gold from Bullish to Bearish on the Medium-term. #1,839.80 is Support to monitor, while #1,868.80 break (my Stop-loss) invalidates current Selling pattern. If #1,868.80 breaks, I will revert into Buying towards #1,890.80 / but Buying (on Gold ) might be limited due the Bond notes Trading near the #6 Month Resistance." / I have closed my Sell order which I opened just few hours ago (#1,858.80 - #1,839.80) with excellent Profits. Congrat's for Traders who followed my call!
Technical outlook and my position: Bond notes frenzy continues as Investors (as usual) are pulling capital away from Gold and moving it to Treasury yields (Bond notes) and is Natural to expect dips on Gold as Bond notes are Trading near #6 Month Resistance. I have utilized current correlation setup in my favor and booked excellent Profits on today's session Selling opportunity. Hourly 4 chart got the necessary Technical correction as I should be seeing a continuation of the downtrend towards the Support of #1,818.80, if #1,837.80 first Support gets invalidated. I am without a position, comfortably waiting for new pattern. If #1,837.80 breaks, I will probably pursue #1,818.80 with my Sell order / on the other hand, #1,870.80 is the only Resistance which can restore Bullish sustainability. Remember, as long as Bond notes are Trading on High's, Gold will be a Selling option. Congrat's once more for Traders who followed my call!