Gold is Targeting #2,000.80 benchmark

Technical analysis: Price-action delivered obvious Bullish Flag as it is on the way to pierce #2,000.80 psychological benchmark as either rejection here on #1,988.80 Resistance towards #1,976.80 and #1,972.80 Supports in extension / or #1,997.80 Resistance line test ahead of #2,000.80 psychological benchmark. Gold remains "Buy the Bottom" Trade as I will utilize it to it's maximum. Solid bounce so far on Wednesday's session local Higher High's as the Price-action was rejected on the Daily chart's #1,963.80 - #1,968.80 Support zone giving shape to a dangerous Ascending Channel. Hourly 4 chart marginally turned into Bullish phase though again however I will not get carried away as long as Gold is seen Trading below the previous High's. #2,000.80 psychological benchmark was also Monthly rejection just as yesterday's session #1,972.80 point is. Indicating a clear pattern downwards on the Medium-term which Buyers of the market expect to be contained above the #1,952.80 benchmark, I am still sitting on the last Long for the fractal which I will decide if it is worth keeping on the Weekly chart's (#1W) candle close. Note that since the big parabola started in mid October, I only had one red Daily candle out of #7. Speculating when a series of red weeks will start on an even more aggressive Bear market than the last one is without a basis however correction will be even more aggressive than current relentless rally. Regardless / the Trade remains "Buying every local Bottom".


My position: I am very satisfied with my comeback this week as I have utilized #2 decent #15-point orders one Buying from #1,970's towards #1,992.80 and re-Selling yesterday's #1,992.80 local High's towards #1,970's session Low. As it is late to re-Buy Gold now as #1,992.80 is rejecting every upside attempt lately, I will await Lower values to re-Buy as I do expect possible market closing above #1,992.80 Resistance for the fractal.