Gold’s recovery showing signs of exhaustion / #1,778.80 next for FX:XAUUSD by goldenBear88

Technical analysis: Obvious Bullish developments as Gold eventually tested (or better yet currently testing) the #1,796.80 Resistance zone that I have been referring to since last Trading week, which is the symmetrical level from the September #24 High (Lower High of last Year’s downtrend). Gold was showing High durability throughout U.S. session and almost touched #1,792.80 second strong Resistance (#1,792.80 – #1,800.80 Resistance cluster and Seller’s final line of defense), as an result of yet another Selling leg on DX . This is a strong Short-term Resistance level to consider as I expect the Hourly 4 chart to act accordingly and initiate a steady downtrend after today’s possible rejection and non-significant rise as an answer for DX’s failed optimism and recovery hopes. Notice also that this is where (Lower High’s), Gold found Support during the May / June #2019 breakout, and in a few sessions Price-action made a new Bearish leg. I spotted High chances of repeating that sequence. Hourly 4 chart is already stabilizing while the Daily chart is close to complete Neutrality indicating that Profit on the recent Top has been taken (Long-term Investors) and configuration is pointing again that fair Technical Selling sequence could be on the cards. If E.U. delivers what I am waiting for, I will be ready with my Selling orders to pursue #1,761.80 Selling variance. I expect a rather ranged session today, unless Wall Street brings turbulence as Price-actions is found between #2 Highly important benchmarks. I remain Bearish on Short and Medium-term with DX numbers as my main point of interest. I am still confident in Selling outlook but without Medium-term opening and Price-action still under lot’s of questions (huge question mark), I won’t rush to engage and endanger my capital with bigger Volumed position. Last #2 out of #2 Resistance breaks / recovery attempts were so far unsuccessful, as my estimations are pointing that #1,801.80 – #1,805.80 is maximum out of current Bullish fractal .
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