Gold got rejected near #1,800.80 benchmark

Gold's general commentary: After the hawkish Fed commentary (and the Fundamental remarks which had Bullish impact on DX), Gold moved retrogradely with DX, not ignoring their Technical negative correlation. That movement was performed due to the worldwide Bond market plunge and the escalation of the Trade tension. That will lead to a capital inflow to Gold, working again as a Low-risk asset for Investors who wish to see the later Trade implications from a safe place. I do not expect this Neutral phenomenon to last for long and Gold has to close the Gap with DX (remember a similar situation on the #1.326.80 - #1.327.80 cycle), which broke the #95.00 barrier on DX for the first time since November #12, #2017. Price-action has already invalidated Hourly 4 chart's trendline drawn from recent Low's, however with Daily chart's trendline holding and currently the setting is seen on healthy Technicals, I may see a reversal towards #1,800.80 psychological benchmark within #3 sessions if #1,762.80 former Resistance now turned into Support stalls the Selling sequence.within next 5 sessions.


Technical analysis: According to the fractal, the #1,800.80 Daily chart's benchmark worked again as a rejection point and Gold reached #1,778.80 first on one single Hourly 4 chart's candle and extended the correction all the way towards #1,760's level. Equally sharply, it rebounded on a Hourly 4 chart's Harami Bullish candle sequence, indicating the strong Support presence at #1,752.80 - #1,762.80 zone. If DX holds the #105.100 Daily chart's Support and Bond Yields continues their Neutral Rectangle Trading, Gold should test #1,782.80 first, then #1,800.80 benchmark in extension. I need to point out again that regarding the Short-term, Price-action holds some Neutral bias after Three Black crows candlesticks formation. For more Medium-term, the trend is still Bullish so a practical suggestion would be to Buy every fall to the Rectangle's Support within #10 - #12 points. I remain Bullish with #1,800.80 psychological benchmark as most viable Target.


My position: As Price-action reversed the Buying sequence and delivered strong Intra-day spike downwards, my Stop-loss got triggered and left me without any orders for the moment. This is not fair Technical value / Price of Gold as I still aim for a Price-action near #1,792.80 - #1,800.80 Resistance zone. My estimations shows even #1,811.80 (multi-Month Resistance) or #1,827.80 Higher High's Upper extension. #1,762.80 break and market closing below invalidates Bullish Short-term potential.