FX.co ★ XAU/USD, GOLD

XAUUSD GOLD. Hello. Gold continued its southern journey yesterday, the bearish sentiment still holds its ground, so selling remains a higher priority for me. Technically, on the hourly chart, indicators continue to point towards further decline, the pair worked out another sell signal within the day yesterday, currently waiting at the activation point for the next one. In case of a favorable outcome for the bears, there is a possibility to move towards the south around 3900-10 in the short term. However, it is advisable to wait for the activation of this signal before opening short positions. On the 4-hour chart, indicators also support further decline, with the Bollinger Band still expanding, indicating a likelihood of the current downward impulse continuing. Only one of the underlying indicators has stopped supporting the bearish sentiment, showing a bullish divergence. But there is a possibility that it is just losing momentum.