Despite the Technical fair value of Gold (Spot prices) test (around #1,680.80), Gold didn’t collapsed since Fundamentals once again distorted Technical trends and postponed my expectations. Usd-Jpy pair took a decent hammering as the Price-action strongly bounced back from Resistance levels and tested Higher Low zone, which added huge Buying pressure on Gold which was evident as yesterday's U.S. session approached. The price has approached the same as January Top #1,6710.80 on a typical intra-day Neutral fluctuation. The High Hourly 1 Volatility is an outcome of the Core CPI reports missing their estimates and early interpretation that positive numbers will result into more aggressive hikes. I have to account the roll over effect for Futures before considering a #1,680.80 test as a product of Fibonacci scale, as the Price-action is closer to Lower High, than to Higher Low, indicating indecision on today’s session. Expect the volatility to increase as June is approaching and clear formation of already mentioned pattern with #1,680.80 as an Final downside extension. June, historically is most volatile month for Gold and I think the situation won’t change this Year. Once the Usd-Jpy corrects the dip and start recovering, I can expect my Targets to be met.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.