Gold once again within Neutral Rectangle

Technical analysis: Gold is currently being rejected just above the Higher High’s Higher zone trend-line of the Hourly 4 chart’s Ascending Channel that started with the May #15 Low's. Within that Channel, the Price-action (Xau-Usd spot) always tested the Support zone after strong local Top rejection, so assuming no further Fundamental news breakout (and DX doesn't make a new Low or Bond Yields (near #5-Month High’s) continue the rejection towards new Support break, I don't see why this Hourly 4 chart’s fractal won't get repeated. #3,277.80 - #3,285.80 would be a fair estimate. If however #3,352.80 benchmark gets invalidated to the upside, that would be a Bull breakout call towards the #3,362.80 (small chances for that configuration to develop subsequently). Gold is having Bearish Short-term sentiment however rejecting aggressively every local Low's attempt.


My position: #3,304.80 first Resistance delivered excellent re-Sell Scalp orders before Asian session (now traditional) local High's #3,332.80 test extension. As I noted on my remarks previous remarks, I will keep operating with my Buying and Selling orders from #3,292.80 - #3,332.80.