Gold above #2,700.80 benchmark

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Technical analysis: Mixed signals regarding the Intra-day direction on Gold where Price-action entered Neutral belt of #2,700.80 - #2,727.80 on Daily chart where the sequence leans more to the Bullish side, while Weekly (#1W) and Monthly charts remains critically Bearish. Last week's Bullish motion / attempts was rejected near #2,722.80 - #2,727.80 Resistance belt with DX on Selling sequence which confirmed once again how significant mentioned zone is, as well gives me a hint that Investors are not interested in placing any kinds of serious orders ahead of Trump's inauguration, on another hand, market speculators may push Gold Higher in order to achieve most optimal entry point for their Short positions and that's phenomenon alone adds High Volatility on Gold market. However, I am expecting slow pace Rectangle Trading to continue without any meaningful patterns to Trade by as current Price-action could be more or less stationary, even though DX is Trading comfortably near local High’s.


My position: After decent last week, I will remain on sidelines and Trade the break-out. Friday's session didn't had anything special to offer, in addition, if I decide to Trade, I will Trade the break-out. I am confident that #2,700.80 benchmark break will deliver very serious decline on Gold and #2,727.80 Resistance zone will arise Buyers and refresh Bullish Short-term trend on Gold. Keep in mind that ceasefire deal is done and Gold may lose value aggressively anytime. All this above paints very Volatile projection on Gold so Trade with caution. I do however expect to "Buy every dip" as long as #2,700.80 benchmark holds as an Support and psychological benchmark.