Gold on miraculous recovery

Technical analysis: Downtrend sequence on DX is what pushed Gold's value Lower as well aggressively while the Intra-day semi uptrend on Gold is what Buyers were expecting and planning ahead. #3,300.80 psychological mark is the next Technical Support on Daily chart and Naturally as long as it holds, the bias is upwards towards the #3,327.80 Resistance (and vice-versa if Support fractal is to be tested). If #3,300.80 is invalidated, Sellers will extend their momentum towards the #3,275.80 - #3,285.80 Symmetrical Support belt level (many similarities with April / June Low’s).


My position: If you took my #3,252.80 benchmark break-out to the upside call you are in excellent Profit by now. I have closed all my Buying orders and especially I am satisfied with Scalp Buying orders from #3,275.80 towards #3,282.80 - #85.80 multiple times. Keep in mind that as long as #3,300.80 benchmark holds, bias is to the upside with #3,327.80 Resistance in extension. Trade accordingly.