FX.co ★ king.zelda | XAU/USD, GOLD

Hello. Gold stood still all day yesterday after a morning rise, and today the bears have been more actively involved and led the pair in their direction. On the hourly chart, the indicators remain bearish for further decline, the pair has triggered a sell signal intraday, which has already been worked out at the moment. However, the Bollinger Band is still expanding, so there is a possibility to continue moving south within the current impulse, reaching around 4075-4080 in the short term. On the 4-hour chart, the indicators continue to point south, hence selling remains a higher priority for me. Moreover, there is a possibility of further downside movement in the medium term. However, the underlying indicators have stopped supporting the bearish sentiment, although they have not been canceled yet. There is a chance that they are just unwinding before continuing the journey south.