Sell order engaged / quick update

7 days ago

Technical analysis / quick update: Ranged Price-action came as no Technical surprise as Price-action remains in Rectangle on a combination of Fundamental pressure and Technical necessity for a Higher High’s Lower zone extension. It is closely related to currency Volatility on DX (and the economy related Fed’s hawkish stance) as the Price-action in near equilibrium with DX (# +0.39%) / Gold (# +0.44%) also on Weekly scale and even if the pair completes it’s Bearish Flag pattern, Gold should not Technically soar above #2,692.80 Top of Resistance zone. On the Short-term side, there is an clear Resistance and Support zone, limiting Sellers advances to it’s maximum thru Fundamental side.


My position: I have engaged Selling order on #2,680.80 / optimal Target remains #2,662.80 Support in extension. If #2,676.80 gets invalidated, development alone will add credence to Sellers.