Gold extends Buying sequence

As discussed throughout my yesterday's session commentary: "My position: I have successfully re-Sold Gold from #3,000.80 moments ago which delivered decent Profit as I await new chance to re-Sell from same vicinity. If however #2,978.80 gives away, sole development will have #2,952.80 benchmark as an most viable Target which I will pursue. Trade accordingly."


Technical analysis: As expected, Gold closed the session above #3,000.80 psychological benchmark and naturally Buyers took the Price-action towards #3,052.80 benchmark which is so far uncharted territory. Personally, as long as #3,000.80 benchmark / firm Support holds, Gold will be Buying option without more serious correction. For the moment, I don't spot opportunity worth taking on a horizon as Gold continues to mimic DX movements which is still within Neutral Rectangle. I will approach with extreme care and I will only engage promising setups (firm Resistance / Support breaks backed by DX / Yields confirmation). Therefore, Gold may continue to soar more or even decline strongly while keeping close track of DX (# -0.37%) chart, as momentum can shift on Hourly basis on Gold. I am rest assured that Gold will touch #3,000.80 benchmark within this week’s borders once again and if it remains preserved, #3,000.80 - #3,052.80 is belt to Trade ahead for us however Gold remains under critically Overbought condition.


My position: Since Gold is on uncharted territory, I will await more and only then make my move. I will Buy every dip opportunity on Gold as long as Gold is Trading above #3,000.80 benchmark.