#100 - #150-point decline ahead on Gold

13 de set.

Technical analysis: The Hourly 4 chart’s Neutral Rectangle has currently taken a pause and was Trading sideways following aggressive uptrend (# +1.92% Weekly change) only to tank even more. Based on the Weekly chart’s (#1W) candles since May #1, it is not uncommon to see one more (straight green) candle as I typically expect very High / violent Volatility as Volumes rise. Even if late April's Bottom isn't tested since an August Low’s was set at #2,452.80 - #2,462.80 a minor rally towards recent High's was Natural, healthy reaction before another #100 - #150-point decline ahead. I remain fully Bearish and will continue Shorting every High’s which Gold delivers. All goes according to the Medium-term plan as the Price-action is approaching #2,600.80 benchmark possibly for rejection (Daily chart turned Overbought sessions ago under current readings). Note that Gold will be closing first week of strong gains since the #2,472.80 - #2,482.80 local Low's. As I mentioned on my latest remarks, #2-consecutive Bearish week’s on Gold are messenger of #3rd consecutive one so Sellers can pursue values even below #2,452.80 psychological benchmark. DX lost Buying momentum on Intra-day basis however Bond Yields are on spiral uptrend where Gold attempted to find equilibrium between the two (of course correlation with DX is much stronger).


My position: I am waiting patiently on sidelines for Gold to max out another Fundamentally driven uptrend with my set of Selling orders ready to deliver / achieve #100 - #150-point decline ahead on Gold as every record High's that Gold delivers, Price-action reverses into aggressive parabolic decline (my re-Sell zones intact).