#1,927.80 and #1,900.80 benchmark are my Short-term Targets

Technical analysis: As end of the session approached (market closing throughout yesterday's session), Gold seemingly printed (#2nd in a row) Bearish Hourly 4 chart’s candle (# -0.88% Selling gradient). On a side-note, this marks one of the biggest Hourly 4 chart’s #3 - #4 candle Bearish cohesion in #10 sessions (May #15). The Weekly candle (#1W) closes on a near (# -0.89%) but the Monthly is still on an encouraging (# -2.85%). I don’t need to make more calculations to spot that the current Daily chart’s critically Bearish Technicals are pointing that multi-Month Selling cycle may be ahead which should allow a symmetrical #1900.80 first, then #1,852.80 benchmark extension (way below the MA periods) by end of June. As I mentioned and Technically regarding the Short-term, Buying is not favoured unless #1,988.80 - #1,991.80 Resistance zone gets invalidated (followed with full candle closing above the threshold). Strong DX will constantly pile heavy Selling pressure on Gold as I maintain my #1,927.80 first Target. As expected the Hourly 4 chart’s healthy Descending Channel broken my #1,952.80 mark as I am now Targeting #1,927.80 first Selling extension. Even though both Hourly 4 and Daily chart are Oversold, current Selling sequence is sustainable. Daily chart should attempt to complete current symmetrical twin pattern with February #2 while Hourly 4 chart is attempting to contain the Price-action above my Support zone for the fractal (#1,927.80 - #1,932.80). Apart from very Bearish Technicals, only catalyst which can revive Medium-term Buyers lies at Fundamental side, but such sequence has very slim chances to develop. #1,927.80 and #1,900.80 benchmark are my Targets which I will pursue with my piercing Selling orders.


My position: As it was very successful strategy (which accumulated excellent Trading results), I will continue Selling every local High's which Gold delivers and will continue to do so (also continue operating with my Selling orders) as long as Selling cycle lasts and this is just the beginning. #1,955.80 was decent re-Sell point ahead of #1,965.80 and #1,975.80. I do expect DX to remain very strong fuelled by today's Fundamentals aswell, adding heavy Selling pressure on Gold. My suggestion is to decrease Trading activity as market closing is approaching as this is final session for the Trading week.