As discussed throughout my yesterday's session commentary: 'Technical analysis: Gold showcases surprising persistence after invalidating the #4,092.80 - #4,102.80 Support zone and hard benchmark to the downside (former hard Support zone (Daily and Weekly (#1W) close above the fractal). A correction move was likely last week as Fundamentally Gold was in relief rally due Fed aftermath and escalation on Middle East problematic), however Gold was able to deliver serious reversal despite the DX continuing to strengthen in addition (up # +0.718%) while Gold was on (# +1.33%). This can also be confirmed in the "DX - Gold” proportional movement correlation. Although Fed's chair speech halted the growth (since it contained nothing that would even tangentially promise the Fundamental reversal of the strict Interest rate policy - Interest rate reduction), however Gold erased almost the entire Fundamentals gain and closed the week within my proposed Neutral Rectangle on Hourly 4 chart. For the moment, current increase can be seen as the usual correction part of a major downtrend, however, it should be noted that under such conditions Gold should continue Trading on much Lower levels. My projection was delivered as I mentioned that every aggressive uptrend will be equally strongly reversed as I have been Selling Gold aggressively throughout Friday's and yesterday's session.


My position: As stated above, I have been Selling Gold aggressively past 2 sessions, especially Gap upwards to the downside. I keep Selling Gold of course with #4,052.80, #4,057.80 and full force Sell at #4,072.80 extension (if delivered). These are my re-Sell points I will use (will Trade all the way towards #4,022.80 hard Support zone, if gives away, #4,002.80 is next.'


My position: Gold is holding still the #4,002.80 benchmark as an hard Support zone, rejecting each re-Sell attempt on both Short and Medium-term as now Price-action is looking Bullish. Even though Gold was ready to pierce #4,002.80 benchmark, I have been ready with my re-Sell zones however Gold soared aggressively due switch on Hourly 1 chart where I was wrong and on wrong side of the market. I however didn't engaged any Sells as Gold was soaring strongly, only slight #4,085.80 Sell however as all structure turned Bullish, I now turn to Buying (also Asian session rise was strong) and I keep Buying Gold today. #4,152.80 and #4,127.80 re-Buy zones to monitor.