Gold is Bullish on Medium-term / Low Volume sessions are ahead

Technical analysis: Aggressive Volatility came as no surprise as candles are arriving strongly and distorting Technical trends. I have closed my Buy I engaged and was holding from #1,773.80, as Price-action was few bucks up throughout today's session as closed it with minimum Profit, and as my Profits for current #6 Month cycle were excellent and made me go comfortably on early New Year break, aswell with Traders under my wing (using my service). I successfully preserved my account waiting for new profitable pattern (which by my estimations, should be if #1,882.80 Resistance breaks or #1,892.80 Top). The Price-action is back up passed the Monthly High on Daily levels and Long-term Investors will start taking Profits on their orders. Checking the Williams% on Hourly 4 chart on biggest percentage this Year, I doubt that Gold will rise more than #2,005.80, at least for #2020 Year (#1,962.80 is maximum until February, according to my estimations). Despite all this and from a Technical standpoint, Daily chart is showing that dip correction are nearly over with Lower High’s, able to convert into a Rising Wedge with #1,840.80 as an a Medium-term Support, if broken then the #1,805.80 extension could be tested and will engage Selling sequence/switch regarding the Medium-term. However, #MA50 is preserving the Channel Up and keeping Short-term Buying bias alive.


Gold's Volatility: As I can clearly notice, these are the most Volatile times on Gold since #2012 with the Volatility variable on #87.12% current Year), last Year the variable was on mere #23%. Long-term the data are there to Support an uptrend, as Stimulus news can push the market upwards if decline occurs. For Short-term, Gold is still Neutral as #1,892.80 - #1,857.80 is Volatility zone. Gold is once more used as a Safe-haven (all Metals are down except for Silver and Gold) against the DX on a decline that was triggered after the official tariffs passed. The Price-action didn’t took me by surprise, as Asian Stock markets last night withstood this firestorm, but the E.U. markets (that where the losers of the presidential memorandum and possible new virus outbreak) ended in enormous losses. I cannot speculate how long this state of uncertainty will last for but for as long as it does, I will adjust my strategy adding strict Risk management. Technically, this Week's decline, later bounce candles were hitting an evident Top formation clearly visible on the charts and extended the rebound.


Fundamental: Regarding Fundamental side, Stimulus news are still there to be priced on the market and once they are, I cannot rule out the #1,927.80 test. I won’t take any additional risks with the holiday ahead, as next #15 sessions should be crucial, with high chances of major move revelation.


My account: As discussed above, I am more than satisfied with my cyclical Profits, as I closed my current position (with #5$ points upwards plus), comfortably taking the early break throughout Low Volume sessions ahead, that could extend as far as January #4. I will still partly monitor the markets, but less likely to be active, unless Stimulus news arises or Resistance invalidation happens, as I will surely inform and advise my Traders. Wish you happy holiday's ahead!