Bullish bias remains very possible / #1,792.80 on the cards

Gold's general commentary: Very slow pace Rectangle Trading on the Hourly 4 chart, as current configuration is a typical sign that the market is consolidating, waiting for a catalyst to reveal an direction. Same configuration with DX (Intra-day). I assume that following the Monthly fractal, the market is waiting for Monday’s session to see how Wall Street will digest current developments aftermath. Fundamentally, the risk-off sentiment that DX had these past few weeks should fade away after current result as Investors will add capital to safe-haven assets such as Gold and evade going back to DX with confidence (making Gold gain with every Hourly candle). Meaning that if Gold loses value, Bond Yields should benefit along with the DX on Lower extension, which can continue Selling sequence on Gold and vice-versa.


Technical analysis: Any pullback to the #1,752.80 psychological barrier and possible Price-action rejection can be initial assessment for Buying opportunity, above #1,762.80, I expect last week's late Buyers to yield and push the Price-action towards #1,782.80. It is Highly important to note that Gold always repeats it’s cycles and allow me share the configuration which was evident on the charts: On November #11 - #12 variance, Gold dipped throughout E.U. session towards the #1,856.80 and as market closing approached, Bought back the dip and closed the market session near #1,884.80. On November #16 (cycle fractal), market sentiment delivered almost the same movement, decline towards #1,864.80, and tomorrow’s session market closing near Weekly High priced at #1,895.80 (again similar scenario). Throughout yesterday's session, E.U. opening was Trading in Bearish fashion but as Wall Street opening Bell approached, Price-action soared on an aggressive spike towards #1,762.80 and Sold back the Price-action just within few Hours towards #1,752.80 again (currently Price-action is Trading above) so - according to Daily cycles, every dip towards the Support was Bought back, and if Gold experiences aggressive push towards the Support and Price-action rejects it, I don’t see why Gold won’t repeat this kind of sentiment and follow the statistic rules, where Gold may continue the recovery candles all the way towards #1,782.80 local High's and Medium-term Resistance zone.


My position: I will keep my Buying order (#1,752.80 as an key entry point) as long as current sequence lasts and since it is holiday sessions in U.S., do not expect much from today's session but be ready for more action throughout Monday's session.