Both sides limited regarding Short-term

Gold's general commentary: Technically, Daily chart turned from Bearish to Neutral as I still don’t see recovery continuation signs. If E.U. opening don’t disappoint tomorrow (Neutral or Bearish) and delivers what I am expecting, there is optimal possibility for #35 point Intra-day dip as U.S. session approaches (if Bond Yields start recovering the #4-Month Low's) . If that’s the case, I will carefully wait for opportunity to add more Selling orders. Regarding current session, E.U. opening didn’t delivered anything firm as Support was intact. Hourly 4 chart recovered current losses, otherwise could drop further, which was not encouraging for Buyers at all.


Fundamental analysis: The Hourly 1 chart's Channel Up has entered the #1,800.80 - #1,815.80 Higher Low zone I've been mentioning the last couple of sessions, turning Overbought in the process and a Sell-off later on should be a correction process (the stronger the rise, the steeper the fall will be). It is important to note that the Price-action is still within healthy Channel Up but with signs of exhaustion. Hourly 4 chart rejected the Bullish extension as I treated current rise as nothing more than Buying pressure from Bond Yields on Monthly Low’s. Technically, this is a Selling opportunity towards the #1,795.80 - #1,789.80 zone. However it all really depends on how the Bond Yields and DX Trade coming into today’s U.S. opening Bell. DX resumed the stagnation so Long-term Selling sequence towards #1,752.80 is postponed for minimum #3 sessions. Bond Yields are Trading near multi-Month Support since June #28 and coupled with Neutral candles on Usd-Jpy, Investors are relocating capital from riskier assets to Gold, and that is the main reason of current “Buying back the dip”. The decline on DX still doesn't affect Gold and if #1,816.80 breaks throughout today’s session, I may potentially see the Top of this parabolic Gold’s Buying spree near #1,824.80 (as I have been mentioning since the start of the week, resembles the finishing Bullish leap for current fractal). It is still early for me to engage any kind of order.


Technical analysis: Bond Yields panic continues as Investors (as usual) use Gold as a Safe-haven. Final Resistance got compromised and if Gold closes today above it (#1,805.80) it is sign of Bullish continuation, if not, everything is ready for Bearish configuration. Personally, with RSI within classic consolidation Rectangle and Usd-Jpy on parabolic downtrend, I doubt that I will see some Bearish action throughout today’s session. Friday's Gap is filled, Daily chart got the necessary Technical correction as I should be seeing a continuation of the downtrend back towards the Support priced at #1,778.80. That would be on any other occasion however as due to Fed tightening speculations and cautious sentiment ahead of Jobless Claim, market is not under normal conditions. This is obvious as DX is Trading within Daily chart’s Rectangle aiming to yet another High and Bond Yields on a spiral downtrend. This adds more Buying pressure on Gold regarding Short-term. In my opinion Bond Yields are they key, if they extend their recovery (and DX makes its first Bullish Daily candle) Gold will follow its Technical Bearish course towards fair Technical Price (Medium-term). Otherwise it will have to be postponed until start of the next week. I am not willing to Buy Gold as these are Fundamentally driven session (and Buying is strongly limited), aswell Technical rules don’t apply in similar situations. On the other hand, Gold's fair Price-action should be way above current one with Yields on Monthly Low's, but market speculators are preventing the further uptrend.