Gold is Bearish on Short-term

As expected Gold broke through the Lower High trendline (which was holding since #1,670) and as the #1,590.80 - #1,600.80 Support zone held, Gold turned Neutral again on Hourly 4 chart. On Friday I expected really flat session which actually happened, without any major changes. The main driver behind it is of course the pullback on DX and Bonds, and at the same time rise on Stocks/Oil, as the markets are trying to get back on it’s current normal area. Gold will get out of this Neutral zone when the #1,595.90 Support breaks. Right now this is where the Hourly 4 #MA50 is which makes it a valid target, but I've stated I prefer the #MA200. Of course, in these times of Fed rate hikes, anything is possible, but Gold has to lose value to level up Overbought Williams% and RSI is showing strong Bearish divergence. Continue Selling as long as Stocks are on the rise. I expect aggressive Support break today with #88% chances (last #25 Monday’s were the trend setters for week’s direction, mostly Bearish).