Sell active / Gold on aggressive relief rally

Technical analysis: Despite the spiral uptrend on DX in attempt to find the Resistance, (Gold remains under heavy Buying pressure since mid-October), Price-action has managed to rise aggressively throughout the U.S. session and test the #2,088.80 - #2,092.80 Daily chart's Medium-term Resistance zone delivering almost (# +5.27%) rise just within #16-session horizon without any firm catalyst to do so. This is the Bullish extension of the Higher High’s Lower zone sequence within the Daily chart. There was evident possible Triple Top's formation (December #4 - #7, December #28 High's and February #2) where Gold approximately (from (# -3.50%) to (# -4.50%)) decline every time current hard Resistance zone (possible Ultimate Top's zone) rejected the Medium-term upside attempt so if Daily chart allows yet another Technical Top's to be formed, Price-action may test #2,000.80 psychological benchmark. It is evident on the charts that Gold is Trading on classic Investment banks strategy (creating dips which are instantly aggressively re-Bought which Traders had chance to witness many times since mid-October) where already made gains on Gold are very slowly reversed, implying that Gold always repeats it’s cycles and that historical resemblance is key aspect in Gold Trading. In my opinion #2,088.80 - #2,100.80 is the Highest extension of the current Daily chart’s Ascending Channel. If however #2,100.80 mark breaks, Gold can peak towards #2,127.80 Resistance variance within #2-session horizon (very slim chances). Otherwise, #2,072.80 - #2,082.80 is my Short-term Support zone and if invalidated, #2,052.80 benchmark should be the next extension which may be filled instantly. No strategy shift so far as Weekly chart shows Selling configuration on almost all Moving Averages. Keep in mind that #2,052.80 mark break may extend the Selling sequence all the way towards #2,027.80 - #2,032.80 very known Support zone.


My position: I have engaged Selling order with #2,087.80 as my entry point / optimal Target remains #2,052.80 benchmark. Keep in mind that Gold is Trading on Inflated Price-action and as such it cannot sustain current critically High levels. Fair Technical Price for Gold is below #2,000.80 benchmark.