1730 Support is my main point of interests, if broken / Price-action will trigger my Selling orders where I will be ready to pursue 1705 extension (with first Support zones seen at 1720 and 1712, which could stall the downtrend). On the other hand, I am not interested in Buying unless MA50 breaks on Daily chart , currently Trading within 1754 - 1758 configuration, and break of can engage 1785 variance in motion .
Gold was rejected strongly within the Resistance zone late last week, as DX is on a Short-term recovery. 1730 Support variance is my main point of interest, and break of could easily engage the aggressive Selling sequence towards Lower Low's first extension, currently Trading on 1705. It is important to note that Medium-term on Gold stays Bearish and next extension should be 1705, as Gold should continues to Trade within Neutral zone on Short-term. If #1,705.80 extension breaks, most likely Gold will pursue the 1678 Lower Low second extension. Last time Gold rejected the Price-action on Daily chart MA50 (November 9), Gold dipped more than 80 points on the aftermath.
Gold was rejected strongly within the Resistance zone late last week, as DX is on a Short-term recovery. 1730 Support variance is my main point of interest, and break of could easily engage the aggressive Selling sequence towards Lower Low's first extension, currently Trading on 1705. It is important to note that Medium-term on Gold stays Bearish and next extension should be 1705, as Gold should continues to Trade within Neutral zone on Short-term. If #1,705.80 extension breaks, most likely Gold will pursue the 1678 Lower Low second extension. Last time Gold rejected the Price-action on Daily chart MA50 (November 9), Gold dipped more than 80 points on the aftermath.