Sell order activated / #1,960 Support on Sellers aim

Gold's general commentary: Price-action is Trading under the #2nd straight Bearish Daily chart’s candle (very tight Intra-day on Gold) again on Low volume (for the second successive candle) within #1,991.80 - #2,000.80 Support zone. Bottom was still not breached on a nearly Overbought RSI as the Hourly 4 chart’s widened the Descending Channel trendline until Price-action picks a side. I am waiting for an full confirmation on the benchmarks I mentioned on the previous commentary. Throughout Friday's session, NFP numbers were revealed where I expected outcome greater than the forecast, however impact on all market classes especially Gold was decreased due Low Volume sessions. NFP numbers was the only viable catalyst to revive Bullish Short-term trend, otherwise Price-action was expected to slide.


Technical analysis: Lagging upswing sequence on Hourly 4 chart as the Price-action re-entered the Hourly 4 chart's Support zone, following the #1,991.80 strong Support rejection and extending the Intra-day recovery candles on NFP aftermath. I am ready to hold my Selling order as long as Daily chart’s Resistance zone is showcasing strong presence, since I have confirmation on eminent Short-term downtrend / correction on Gold. As I noted, Gold extended the Buying leg, but I doubt it will continue due market closing below first Support for the fractal (former #2,010.80 Support now turned in Resistance). Best option for the moment is to hold the Selling order and If however #1,991.80 gets invalidated once again, then expect Selling sequence to be completed within #1,960’s belt and only then I’ll revise my Short-term approach. Price-action has been struggling to get past the #2,000.80 benchmark all session long (E.U. opening) with aggressive Bearish Gap which was filled instantly as early April local High's and Daily chart’s Resistance applies Selling pressure (along with Yields on a Bullish comeback). However, with the Fundamental reaction easing (thus weakening the probability for another immediate Bullish spike which may decrease Technical necessity for a correction) and Bond Yields still not strongly reversing and remained weak - it is still possible to break to the #1,991.80 Low's eventually. However, the downside offers more potential than Buying at the moment.


My position: I have engaged my Selling order early on (#1,998.80 as my entry point) and optimal Target for the sequence and my Selling order is #1,960.80 Support in extension. Assuming no Fundamental shocks, Price-action might deliver healthy correction downwards.