XAUUSD: Break Lower or new Lower High. Sell in both cases.
The 4H Channel Down (RSI = 29.476, MACD = -4.710, Highs/Lows = -9.6171, B/BP = -14.3541) has successfully made a new Lower Low at 1,206.52 on Friday and is close to breaking the 1D supporting Higher Low trendline at 1,198.50. Technically we should now get a rebound towards 1,226 before an attempt to break the 1,198.50 - 1,203.20 zone. With 1D turning negative on strong bearish RSI = 39.893, Highs/Lows = -12.3936, our TP set of 1,203.20 & 1,294.95 is further strengthened.
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