Since the dive under 1820 support followed by 1800 break, I have become strongly bearish Gold, but, to be honest, I didn't expect a 500+ pips rebound, the 1760 support and the short-term H&S being too kindergarten easy for me to believe in them... At this point Gold is trading well above 1800 at around 1810, still, my bearish opinion didn't change From a technical perspective, the rise from the bottom is just a correction of the 1870-1760 drop and XauUsd is facing strong resistance just under 1820
On the hourly chart, we can clearly see that the rise is corrective and that bulls are facing strong resistance at this point A dive under 1805 zone would give confirmation that the correction is over and expose 1790 zone Furthermore, a drop below this point would confirm my medium-term bearish outlook and we can expect 1700 zone to be reached. On the other hand, Gold back above 1825 would be very bullish Gold and would signal the resumption of the long term bull trend
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Gold is at 1805-1806 zone Interesting to see what will do at this point I'm still short with my yesterday's sets of short trades