Gold Break Support and Trendline
MY ORDER IS OPEN FOR SELL TO 1728 AND 1714
Gold's general commentary: Flat E.U. opening with visible Selling pressure on Gold , as DX (my main correlating asset currently) Trading on gains and pierced Medium-term Resistance seen Trading at #107.55 - #107.65, caused by impressively great numbers on U.S. economical parameters (Initial Jobless Claims and partially Philadelphia Fed Manufacturing Index) secondly Bond Yields engaged relief rally and are currently Targeting #3.000 psychological barrier, thirdly, it is important to mention Usd-Jpy pair which is on steady uptrend and partly it's back to my correlation asset list. Currently, Gold is comfortably Trading below one of crucial Support level of #1,752.80 - #1,755.80 and by breaking it, attracted more Sellers and extend Gold’s takedown towards #1,727.80 sequence. There is strong #1,727.80 test probability once #1,744.80 surrenders and if market closes below #1,744.80 mark while DX broken the Hourly 4 chart's Resistance zone am expecting decline to be in continuation under these circumstances. Daily chart is pointing on a steady slide aswell, so Medium-term Buyers should take that into consideration before planning a move. Investors remain cautious and that's why Traders are witnessing Low Volume throughout today's session.
Gold's general commentary: Flat E.U. opening with visible Selling pressure on Gold , as DX (my main correlating asset currently) Trading on gains and pierced Medium-term Resistance seen Trading at #107.55 - #107.65, caused by impressively great numbers on U.S. economical parameters (Initial Jobless Claims and partially Philadelphia Fed Manufacturing Index) secondly Bond Yields engaged relief rally and are currently Targeting #3.000 psychological barrier, thirdly, it is important to mention Usd-Jpy pair which is on steady uptrend and partly it's back to my correlation asset list. Currently, Gold is comfortably Trading below one of crucial Support level of #1,752.80 - #1,755.80 and by breaking it, attracted more Sellers and extend Gold’s takedown towards #1,727.80 sequence. There is strong #1,727.80 test probability once #1,744.80 surrenders and if market closes below #1,744.80 mark while DX broken the Hourly 4 chart's Resistance zone am expecting decline to be in continuation under these circumstances. Daily chart is pointing on a steady slide aswell, so Medium-term Buyers should take that into consideration before planning a move. Investors remain cautious and that's why Traders are witnessing Low Volume throughout today's session.
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