Buying pressure easing as situation de-escalate

Gold's general commentary: Once again Fundamentals distorted Technical proper trend (Bearish due Overbought Daily chart) with expected aggressive Gap fill on DX and Bond Yields (on spiral downtrend) which added huge Bullish pressure on Gold. With aggressive decline throughout yesterday's session E.U. opening which was later on Bought, Gold has continued Trading within Neutral Rectangle on Daily chart, as today's session Neutral belt near #1,900.80 barrier represents a Higher High’s extension and #1,882.80 (last week’s High’s) represents Lower High’s. This is a Natural Volatile response prior to such an important macro-Fundamental events and surely this is not Gold’s fair Technical value.


Technical analysis and my Position: DX is losing value with every Hourly candle and progressively should add Buying pressure on Gold. Important note: For Gold to obtain newest Bullish confirmation, Buyers are confident only when #1,917.80 (June's #2021 Annual High's) breaks. Engaging any kind of order at the moment brings additional risks on the table, while I am more than satisfied with my current Trading results, I choose not to Trade this for the session, regardless what occurs. Weekly candlestick pattern is showcasing anemic activity, where it is difficult to determine an Intra-day trend. I will patiently await for the right moment to add more Longs if #1,914.80 - #1,917.80 breaks, while #1,896.80 Support can revive Sellers and fuel the correction towards #1,882.80 (previous Higher High's). Trending Traders may follow last week’s gains correction which was Technically necessary, but Gold erased it with Intra-day recovery indicating elemental Bullish trend Price-action is Trading under. It is important to note that current peaceful talks may cause Investors to lose interest in safe-havens such as Gold, while new conflict escalation news may arise Buyers and push the Price-action towards #1,917.80 peak. Even though #1,900.80 was my Buying entry point, I didn't engaged the order since yesterday's session had early market closing as I knew that on today's session market opening I can have totally different outlook since the news candles would be priced in, which made me remain on sidelines. Remember, the more Gold rises, more aggressive decline will be. Careful market at the moment where both sides (upwards or downwards) are currently equally probable. Personally, my recommendation is to sit out today's session and engage once one of the benchmark breaks.