Gold soaring with NFP debacle as an catalyst

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Quick update: Gold is Trading on NFP fuelled relief rally and Bearish Technicals are invalidated once again (I announced lately that this might happen if NFP delivers downside surprise / debacle). The Hourly 4 chart's Ascending Channel increases it's gains towards Overbought levels as #3,352.80 benchmark is showcasing strong durability. Both Weekly chart (#1W) and Monthly (#1M) are on mild gains (# +0.65% and # +0.71% respectively) and with ranging candles (Gold consolidating above the Support for the fractal) I do not see any rebound (to the downside) possibility yet.


My position: As discussed above, I will keep Buying every dip on Gold and will not Sell Gold throughout today's session (if I do, will be aggressive in & out Scalp only). Gold remains very sensitive to every Bullish development while Bearish ones are still on second place.

Penafian

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