Sentiment : 1627 1610
The gold is currently testing the support at 1578 points. The pair continues to move on the lower band of its medium term bearish channel (purple lines). All indicators are bearish. We maintain to trade only short positions as far as 1610 points is resistance. The breakout of 1578 will both a new sell signal and open the way towards 1550 points. In case of return above 1610 points, we will wait the breakout of 1627 to advise long positions.
Chart of the pair XAU/USD (Gold)- Timeframe 4H - Zoom in :
Chart of the pair XAU/USD (Gold)- Timeframe 4H - Zoom out:
XAU/USD (Gold) Live Chart - Timeframe : 1h