Sell Time on Gold

As I noted yesterday on my report, Gold (Xau-Usd) reached Top by strongly rejecting the Price-action and should slowly start losing value with new downside action. I once more witnessed that the market is pretty unstable these days and that I should approach Fed hikes with extreme caution since they always bring turbulence on the markets (Technical trends get easily distorted by Fundamentals - as I am Technical Trader more than Fundamental). There is still big Price-action difference between Gold’s Spot prices (Xau-Usd) and Futures contracts, which means that during these volatile times Investors parked their capital from riskier assets (Stocks, Equities) to Gold as a safe haven that it represents for a Long time. The Hourly 4 Ascending Channel is now testing the Lower High trend line, but I doubt it’s strength since Gold is Overbought almost on all charts. With DX breaking the #100.00 after the #6.65 million Initial Jobless Claims (April #3), I doubt Gold has more upside momentum to go higher since DX shouldn’t dip anymore. What's keeping Gold high also besides the declining Bond market, is the general Bullish sentiment on the Stock markets today which may be due to the relief (output cut) news from the Oil sector (against the reality of the #6.65 million jobless claims), so in my opinion I will get the real Bearish move today as US session approaches or tomorrow. Gold is calling for #MA50 Hourly 4 #1,610.80 and #1,580.70 in extension. Experienced Traders don’t trade against the trend, they always wait for the Price-action to hit their desired marked point (Break of Resistance or Support) and then decide to enter the market - I will do the same, I am without a position until #1,705.80 (Support) is broken as I don’t doubt Bearish reversal.