XAUUSD 4H - Levels

Gold failed to break above the 1810 price point again and we've seen it now come down to support levels.

We can see it pulling back to potentially retest the break out which sits around 1783 and can see on the chart that we are being supported at the 1792 level which is also where the 200MA is sitting on the 4H chart.

We have a scenario here where we could bounce here if we don't break this level and this time break the 1810 level to the upside, or.....We see more selling on Gold tomorrow where we target the 1783 level as the first target. We have maintained we are bearish on Gold and as we mentioned in yesterdays post we are holding positions from 1804 and 1797. These positions are now protected.

We have our sights on 1763 as long as this remains below 1810. Please refer to our previous posts to get an idea of how we've been trading Gold.