Gold's general commentary: Gold remains Neutral on an Intra-day level and the Hourly 1 chart is still respecting my #1,745.80 - #1,747.80 estimated Support range. As Gold is on #2-session consecutive uptrend, Bond Yields are on a slight decline (keeping Gold Neutral but on High levels in comparison with start of the Trading week), DX is somewhat flat (below Hourly 4 chart's Support) and U.S. futures are ranging and this is the combination that is keeping Gold Neutral and within + - #10$ belt on Daily basis. The Hourly 1 chart’s Support zone is near so watch out for an Intra-day rebound there. Gold is on a tight spot around the current mark (Spot price) and is consolidating on Hourly 1 chart (Micro level) since yesterday's U.S. opening Bell. DX was taking strong hits throughout yesterday’s U.S. session and miraculously recovered (found the Support) as that configuration should again bring consolidation candles as I believe that since Gold is approaching the #1,765.80 - #1,772.80 Upper zone of the Hourly 4 chart's Channel Up started #3 sessions ago, Gold could continue soaring on positive Fundamental outcome, and is only matter of time (where the Daily chart Higher Low extension currently is) when Gold will fill the Bull Gap upwards. Unless DX and Bond Yields slide dramatically next (I give less chances to that as Inflation is growing), I expect #1,778.80 next and Gold has to engage the aggressive decline on the aftermath. One of the dangers which could invalidate my model, is apparent #1,737.80 Support break.
My position: I engaged my Buying order on #1,756.80 configuration, Targeting #1,785.80 Buying extension. I will move Stop-loss every #5 points in Profit if happens, since weekend break is near.
@lukulus, Short-term trend changed, but Medium-term, I stick to my original strategy.
goldenBear88
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@lukulus, Me, you, and everybody else, have their own models and projections. However, market is in charge and we need to listen to it. I believed we should test #1,700.80 extension, but bias changed and nobody is forcing us not to Profit on it. Gold's Medium-term is fully Bearish.