Selling sequence ahead on Gold / #1,800.80 first Support

Gold's general commentary: I have essentially nothing to add regarding Short-term as Gold crossed Short-term Resistance on the Hourly 1 chart and crossed aswell #3-session High, which as usual should result as an Bearish spike below the #1,800.80 barrier. This is an additional Short-term Selling signal similar to February #2 - #5 #2020 parabolic rise, which ended as an steep correction. The Daily chart’s consolidation (current upswing leans more to the Bearish side rather than Neutral), as Gold is still ignoring Bullish trend on Bond Yields, following mostly losses on DX (taking strong hits) as Global Geopolitics dust rises, and as long those guide the market sentiment, further uncertainty on Gold is inevitable. There is Fundamentally unfair statistic I spotted: this is Bond Yields correlation Month and mostly Gold ignored DX developments (#18 out of #20) times, while both sessions where DX was in the equation were Wednesday’s session rise on Gold and only once more, where market speculators used it as an viable “reason” for Gold’s uptrend, while mostly it was ignored by Gold. Remember the #52-Week Low's on DX which were strongly ignored by Gold aswell.


Technical analysis: This shows that Price-action risen without main cause (ever-growing Inflation and new virus variants are already priced in on the markets, even though that Inflation indicator is near #40 Year High's), Buying every dip and distorting fair Technical trends I have nothing to add to my previous analysis (I saw how the Fundamental statistics were unfair giving Gold Buying pressure on Hourly horizon) and only if Weekly (#1W) Support at #1,778.80 is broken, Gold can give one more downturn opportunity towards #1,759.80. Gold was pricing a Top here (temporary or not), and I might take my chances and Sell Gold early on throughout Monday's session, as all recovery attempts will be limited as long as Bond Yields are on the rise. Happy holidays and enjoy the weekend!