Hello traders. XAUUSD GOLD. Good afternoon. Gold slightly paused its decline yesterday, but it is not yet clear that the bulls have regained control. Although I do not exclude this possibility, I continue to lean more towards the downside. Technically, on the hourly chart, indicators are not showing anything specific at the moment. The sell signal was canceled on the pullback, but a buy signal has not formed yet. The pair has entered the bullish zone of the Bollinger Band, but it is too early to talk about a strong confirmation here. So, I am looking for a continuation of the downward movement towards 4240-45 in the short term. On the 4-hour chart, indicators still favor further decline, so selling is a higher priority for me. Moreover, there is a possibility of continuing the downward movement in a more global perspective, as indicated by the technical picture on the daily chart.
