Good day. Gold tried to develop a bullish sentiment yesterday, but today bears are taking the initiative back. However, it is still too early to talk about a continuation of the downward movement at the moment. On the hourly chart, indicators support further movement to the north, but the pair is currently testing the middle Bollinger Band from above, so depending on a breakout or a bounce, it will show the next short-term sentiment. I continue to look south with a target around 3265, but it is advisable to wait for the test result before opening short positions. On the four-hour chart, indicators are leaning more towards the south, but the pair has entered the bullish zone of the Bollinger Band channel. Although the channel has narrowed, it does not confirm a bullish development. Additionally, on this timeframe chart, it is visible that the pair is within a certain trend channel, with a bounce from the upper boundary, so I expect a movement towards the lower boundary. Therefore, in the local perspective, I consider a move to the north as a priority for myself.
