Gold extended it gain but 1983 is heavily resisted

Gold has extended its gain within the range with the H4 failed reversal pattern previously, this retested previous breakdown of 1983. We only look for shorts if price below 1972 given the overall weak bullishness on D1.

However, H4 is still favours the long, thus one should monitor its position sizing before shorting with a tight stop loss. Upon breaking 1960, we should expect 1940 and 1920.

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Prices has broke below 1971 will trend to 1960 before breaking into 1940 , H4 have shown sign of weak bullish and align with D1. This indicate a stronger downtrend is on the way.