Gold preserves overall Bullish trend

Fundamental analysis: Even though there isn’t any viable explanation why Gold is delivering aggressive spikes to the upside (that Central Banks are purchasing Gold is Long-Year tradition, nothing new that it can deliver such heavy Buying pressure on Gold), Gold preserves overall Bullish trend. DX dropped to the Lowest level in #2-week time previous session after the U.S. first quarter (#Q1) GDP flashed disappointing numbers. In doing so, the DX gauge versus the #6 major currencies failed to contain Selling sequence which is suggesting an escalating price pressure in the U.S. Overall, Gold is preparing for this week’s Fed minutes which is likely to recall Gold’s Sellers. However, any surprises won’t be taken lightly and hence the DX Buyers are advised to stay aside for the time being. Even though DX recovered #2-Week Low’s, Gold delivered only minor decline. Long-term Sellers should feel safe as Daily chart’s #MA50 offers optimal Target to pursue. Gold is headed towards #2,352.80 - #2,362.80 Resistance zone which I doubt to see in action, while Short-term Traders can still target #2,320’s belt (and #2,300.80 benchmark those with a Risk appetite, Selling Gold on overall Bullish trend, Price-action filled with Bullish spikes). Note that Gold may stay isolated within current range for another #2-Week / #1-Month so opportunities will continue to emerge both ways.


My position: I have managed to catch decent #10-point Profit throughout Friday's session, Selling High's which brought #2,327.80 test. I will assume no new orders for the session and will look to re-Sell Gold as Higher as I can. #2,342.80 - #2,352.80 is optimal re-Sell zone. I am very comfortable with waiting / patience.