Gold on mega Bullish rally

Technical analysis: The Price-action instantly surged as despite the Inflation PCE outcome, the DX remains more Neutral than Bullish for the session, however appears to be reversing on a Hourly 4 chart’s series of Engulfing Bullish candles (I advised it should rise gradually within #10 sessions, not remaining isolated within Neutral values). In addition regarding Daily chart's configuration, market sentiment is far from regaining the standard correlation (diagonal DX / Gold Trading) however I am about to project enough time (another #2 week - #1 Month including today’s one to have a clearer picture). #2,400.80 psychological benchmark may still be tested into current week’s variance (since sequence didn’t disappoint Buyers, the news relationship appears now to be inverse, possibly good news raise accelerated Rate hike concerns). I rely on the Weekly chart’s Technicals at hand suggesting that the Lower pressure point of #1,800.80 benchmark will be tested aggressively on the way back (steep correction) where I will have #500+ points to utilize ahead (if my regression analysis is correct). The Price-action is now Trading on uncharted territory on all main chart’s critically Overbought. I expect the multi-Month re-Sell zone to take control again and reverse the Price late April - early May with #2,200.80 benchmark as a first Medium-term Target Target, then #2,000.80 benchmark in extension.


My position: As current Trading resembles more to gambling rather than Technical / rational Trading, I will keep away from the market (for now) preserving my capital. Price-action can deliver side Swing on both sides however Bullish side prevails where every local Low's is excellent re-Buy opportunity, and for me (well known Seller), this market is a no-go. I am very satisfied with my Selling in mega Bullish rally and will monitor the Price-action from sidelines.