XAUUSD SHORT

The weekly candle closed bearish, this comes after an extensive rally that came of the back of a weak dollar. This weakness can be linked to profit taking and uncertainties due to hurricane Ian that hit Florida and other parts of the US gruesomely. This however did not last as the macro economic environment remains bearish for gold.

However, I won't be quick to sell as price haven't broken back below lower and higher timeframe support. For this, I will advice caution till price have cleared this key levels and confirmed our sell bias before taking any trades.