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Gold is Bearish My Target 1712 and 1700
Gold Sell position my sell order is open
Gold's general commentary: As Gold is Trading within Hourly 1 chart’s Neutral Rectangle , this is very cautious market at the moment. Yet again, I see no firm reason for current Buying bias on Gold , as #1,752.80 - #1,755.80 should price in local Top’s and reversal area. After observing Gold’s Price-action near market closing, #1,700.80 remains an #10-session horizon possibility. As long as the #108. 40 level on DX holds and the Bond Yields continue with their Volatile phase on Weekly chart (#1W), I expect Gold to remain under pressure and continue Trading downwards both on Hourly 1 and Hourly 4 chart. I do expect however the currency speculators to push DX as High as they can ahead of next week in order to secure a more comfortable Short - Selling entry throughout Friday’s late session.
Gold's general commentary: As Gold is Trading within Hourly 1 chart’s Neutral Rectangle , this is very cautious market at the moment. Yet again, I see no firm reason for current Buying bias on Gold , as #1,752.80 - #1,755.80 should price in local Top’s and reversal area. After observing Gold’s Price-action near market closing, #1,700.80 remains an #10-session horizon possibility. As long as the #108. 40 level on DX holds and the Bond Yields continue with their Volatile phase on Weekly chart (#1W), I expect Gold to remain under pressure and continue Trading downwards both on Hourly 1 and Hourly 4 chart. I do expect however the currency speculators to push DX as High as they can ahead of next week in order to secure a more comfortable Short - Selling entry throughout Friday’s late session.
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