Gold reversed however Bullish potential remains strong

As discussed throughout my yesterday's session commentary: "Gold is skyrocketing due DX taking strong hits due Trump's tariff speculations and as explained many times before, such development will add heavy Buying pressure on Gold. If #2,752.80 benchmark holds as an former Resistance / new Support, #2,800.80 benchmark / record High's are in motion. My #2,743.80 entry point Buying order is still running as I will keep it for more Profits. Trade according to what I wrote above."


Technical analysis: As expected, the #2,762.80 - #2,772.80 Resistance zone held and that gave Gold a strong boost back below both the #2,752.80 benchmark and #2,747.80 Support zones in extension. Last time Support zone practiced strong durability, Gold was on a strong uptrend on the aftermath. The Daily chart’s structure is not entirely green and the next Technical Target for Sellers may be the #2,732.80 local Low's and Medium-term Support zone. This strength for Gold is maintained despite last week's correction on DX and the indecision on Bond Yields, showcasing that this is an both now Technically and Fundamentally backed up Bullish stance for Gold. Gold formed very Bullish structure in past few sessions (currently on #4-session consecutive Buying spree), as DX experiencing an Sell-off and needless to mention, DX continues to represent my main correlating asset. Technically, Gold may reject once again the current Buying sequence near already mentioned above Resistance belt, if DX bounces off near it's Medium-term Support as that development alone can deliver decent Buying entry on Gold, Targeting #2,782.80 and #2,800.80 record High's in succession. On another hand, if Gold invalidates #2,742.80 Support with red candles in continuation on DX, Gold may hit #2,700.80 benchmark within #3-session horizon. Even though DX seems pretty weak, I will Buy Gold only if #2,752.80 benchmark gets invalidated to the upside.


My position: Game plan is simple, Buying Gold above #2,752.80 benchmark again and #2,742.80 break-out to the downside has #2,700.80 benchmark on aim.