Gold On Bearish Pressure, Be Alert 1563.10


The movement of Gold in hourly chart seen is on bearish bias. Preference for today is bearish with 2 alternative scenarios. First, watch the Support 1563.10, if it breaks it potential trigger continue bearish movement to the range 1553.50.  

Second, Watch area between the resistance 1583.43  and resistance 1572.70, this area can be key for hunt bearish signal/pattern. If bearish signal/pattern appears in this area, it potentially triggers bearish movement aim the support 1563.10.

Ignore the preference if the resistance 1583.43 breaks, because bias bearish has change to bullish, within possibility price move upward to the range 1594.16-1603.76.

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