Gold- 1760 zone is strong ceiling

10 באוג׳ 2021

After dropping hard Monday on Asian session, as normal, Gold rebounded and filled the gap.
At this moment XauUsd is still in a correction phase and a small leg up is not out of the question.
However, considering the power of the drop I will not trade on the long side but look for selling opportunities.
As I mentioned yesterday, 1760 zone could be a good place for short trades, and only Gold back above 1795 would change my strongly bearish outlook