Buy order engaged / #2,042.80 Target to monitor

Technical analysis: Gold has hit and reversed near the #2,010's, March #20 - #24 local peak, which is currently posing as an Resistance zone. I spotted necessary consolidation on Daily chart after the latest #1,982.80 Support (in the same manner representing session Low's), in a candle sequence that resembles the sideways movement from April #3. This suggests that Technically, Hourly 4 chart can't stay Neutral anymore and should turn Bullish or Bearish, picking a side and revealing major move any moment due to the Bullish Fundamentals and now on Bullish Technicals readjusted over-night. This slowdown on Daily chart is also an indication that the Intra-day correction process is near the completion, as that the Weekly chart (#1W) is charging Medium-term Bullish reversal. I still didn't spotted Profitable pattern and my focus on Bond Yields is greatly Higher than before. I will keep cross-analysis with Bond Yields also as Price-action above current one invalidates Selling Short-term potential. A flat Trading session so far on Hourly 4 chart (with #2 minor spikes) which raises no further need for analytical approach than what I've already done. If however #2,007.80 - #2,010.80 Resistance zone gets invalidated on aggressive manner, it will deliver necessary Buying confirmation.


Fundamental analysis: No major moves so far and as a result Buying pressure is visible, personally I believe the current level of #2,010’s level is a solid re-Buy area, as everything depends on today’s session market closing (full candle closing). If my pattern is postponed and Gold breaks the #2,000.80 Support, then aggressively I would Buy back the downtrend (as it was the case #2 out of #2 times), then have to wait for potential contact with the #1,991.80 Support extension to Buy again regarding the Short-term. Gold has finally entered the #2,000.80 - #2,010.80 zone which has seasonally been the strongest Buying accumulation patterns (consult September #2021 cycle). Daily chart should be Naturally stabilized as I shift my focus on Weekly (#1W) and Monthly chart, both of which are calling for a Medium to Long-term Bullish sustainability. The Fed loan rate climate (and repurchase agreements) may be the main driver behind current aggressive Volatility, thus Bond Yields engage the Daily chart (#D1) full scale recovery attempt, which can be identified as an trend switch / confirmation on Gold. There is always an outside factor that drives the Price-action to the Support zones seasonally (reversal on Bond Yields) but all are Bought there. It is possible to have a #1-more session period Trading within Neutral belt before the Price-action breaks upwards though based on the #2020 / 2021 cycle and CPI numbers. New Bullish outlook on Gold will come as no Technical surprise since correlating assets should Trade favorably for Gold’s uptrend.


My position: I have engaged Buying order with #2,014.80 as my entry point, optimal Target remains #2,042.80 sequence. I do expect CPI numbers to go in my favor, skyrocketing Gold's Price-action which is going with Bullish Technicals.