XAUUSD Bias UPDATE: Short; Monthly Timeframe

Are you a swing or long-term trader, who is planning to buy gold now? If yes, I would love to say "Don't!" Why? It's because the market condition, technically, in the higher timeframe like monthly has already shown us where the market could head in a couple of months now. Go and run a check on the monthly timeframe as seen in the above monthly technical analysis.

The price has reached a historical high and had three taps, preparing to move down as a bearish pin bar that has formed in the chart shown now. So, keep your eyes open to see the next big move soon.