Gold has become pretty bearish

2021年4月20日

In yesterday's comment, I said that Gold is facing strong confluence resistance and could correct from this point and if we are looking at the price action we see that, after a false break to the upside, XauUsd reversed and closed the day with a bearish Pin Bar.
From this point on, I expect gains to be very well capped above 1780 and we can expect a dive under 1760 zone support in the next few days.
Such a break would expose 1745 support and, on the other hand, the price back above 1790 would negate this bearish scenario.

Best regards
Mihai Iacob