FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
122 0 1
Gold             has been pushed up again While We are still waiting for the declines as far as 1149 level is safe like emoticon
We are Bearish but leaving our aggressive policy and Wait for the reaction back If occurs.
This up move still been part of corrective chapter and Still the over all price action suggest that more likely is the corrective rather than Impulsive.
How ever resistance 1138 is the final resistance for Bearish and Invalidations lies at 1149. We will still continue to look for the drops as far invalidation is safe while we will shift our mind upon invalidations.
Trading recommendations :
Price needs to close below 1140 in daily and then price needs to close below 1136 in 4H next to be confidence back.
We will Wait for the behaviour change and will look To start selling consideration from 1122.
We are neutral.... No recommendations yet
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