Fundamental analysis: Statistically, out of the past #17 Fed (FOMC) minutes, #6 announcements guided Gold in a Short-term rally, causing spikes on both sides (which may be the case shortly), only #3 were sustainable and lead Gold on #20+ point rise (#1,580.70 on November #2020 aswell). Investors may park their capital on riskier assets which will put Gold under Selling pressure. I see many similarities with current variance I am expecting at the moment, only in opposite direction (towards #1,750’s). Price-action should be Trading near #1,782.80 final Support (below #1,788.80 #MA50 on ), and #3 point break below the Support cluster can extend the Selling sequence towards #1,752.80 benchmark.
My position: No surprises so far as today’s session very positive U.S. High impact Fundamental’s didn’t broke the #1,782.80 – #1,785.80 Support cluster and consolidation range which is slightly above, but now the Daily chart’s should push Gold Lower (global lockdowns fear). Following the positive Fed minutes speech outcome regarding Bond Yields, it can arise Sellers to pursue the crucial test towards #1,752.80 benchmark. If attempt is successful (firm break below #1,782.80), then #1,748.80 – #1,752.80 is the next zone to watch. Keep in mind that current variance largely depends on Yields, which should skyrocket on Short-term, which in turn should practice Selling pressure on Gold . My yesterday’s Selling order is closed on breakeven, and would surely kept it if there wasn’t Thanksgiving holiday in U.S. Due the holiday, I do not expect much from today’s session (Price-action fluctuating within #5 – #8 point belt), as I will remain on sidelines.