Technical analysis: Gold's Price-action is under unprecedented Volatility and on important crossroads for both Short and Medium-term. If you have initiative to Trade the news, my expectation / personal estimation is dovish stance from Powell due banking crisis (even though the crisis is easing subsequently). Otherwise, I would expect hawkish tone (statistically:, #8 hawkish, #8 Neutral and only #2 dovish surprises in the past #18 events). I do expect dovish stance in form of a aggressive attitude from Fed chair and observing Daily chart (still on healthy Bullish Technicals), I do expect break of #1,952.80 benchmark (filling the #1,962.80 Gap nicely) towards #2,000.80 benchmark again. In addition, if today's news keep Gold's Buyers less interested in participating the market, #1,930.80 - #1,935.80 Support zone might be tested and invalidated, where Sellers will arise and pursue #1,900.80 psychological benchmark. Remember my last week's comments regarding Inflated Price-action on Gold and since #2,000.80 benchmark was not realized firmly, current Selling sequence can easily fill Bearish contact points way below #1,900.80 benchmark. My entry point is #1,943.80.
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- Few other un-official channels are not mine, they are copies using my real information (impersonating me and my work / identity) so keep that in mind and beware of those.
