Gold on total Bullish domination

Technical analysis: Even though DX (# +1.07%) is Trading on gains for #2-consecutive sessions (pricing in Higher High's extension), I in the same time have the Buying pressure visible on most charts regarding Gold, along of Trade wars soaring. Current configuration should last at least as High as #2,800.80 - #2,822.80 record High's (my personal Intra-day maximum). If #2,800.80 mark gets invalidated and market closes above, I add more Buying orders on mentioned levels aiming at #2,818.80 (slightly below #2,822.80 Resistance line). As expected, Buying accumulation I discussed throughout the session started and the Technical reason behind it was the Ascending Channel configuration which was adding confidence to Buyers, and attracted Short-term Investors, triggered their pending Buying orders (spike towards #2,800.80 benchmark from #2,772.80 Higher High's Lower zone few Hours ago confirms the above). Hourly 1 chart remains an Ascending Channel (ready to break above the Neutral Rectangle on Hourly 4 chart), so I will be keeping an eye on the Daily chart’s #2,822.80 for Medium-term Resistance attempts and the Hourly 4 chart’s #2,800.80 benchmark for Short-term Resistance. Technically the Hourly 4 chart’s Resistance has been unbroken for a while now and rejected the Price-action on multiple occasions, so you realize the significance of this level. I doubt that nearby Resistance cluster will break without strong catalyst, however on the other side, Selling reversal is strongly limited aswell and #2,772.80 local Low's represents the last line of defense for Buying bias to be sustainable.


My position: I have made quick buck on last night's Selling order (#2,784.80 - #2,772.80) as DX is Trading on Bullish spike. However Bullish sustainability on DX has less or no impact on Gold and decline isn't in continuation so expect Buying pressure to remain strong on Intra-day basis as Selling is not advisable on such sessions.