FX.co ★ king.zelda | XAU/USD, GOLD

Good day. Gold yesterday failed to choose any direction, and today the bulls sharply shot upwards. However, they couldn't maintain this momentum, and the bears brought the pair back to previous levels. As a result, there is still uncertainty regarding the further direction in the short term. On the hourly chart, indicators currently continue to lean towards the north, but the pair is now testing the middle Bollinger from above and even trying to enter the bearish channel zone. So, depending on a breakout or a bounce in the near future, we will see the further sentiment. I lean more towards the south, but I will not open short positions based on this assumption. On the 4-hour chart, indicators also continue to point north, but new bearish divergences are forming on the basement indicators, and the pair cannot break away from the middle Bollinger during its test. Today there was a new attempt by the bulls, but the bears brought it back for a test. So, here too, depending on a breakout or a bounce, we will see the further sentiment. Judging by how the bulls are struggling to maintain the initiative, I assume that we will soon see the bears taking action.