Trend is bearish in 1 hour time frame. The intraday resistance could be seen at the price level of 1214.76 area. Yesterday, the price of XAU/USD tried to rise sharply and then dropped which looks like start of a bearish trend. As long as flow of the market remains down, I am interested to take selling trading opportunities. If bullish candlestick closes above 1214.76 critical resistance level then down trend is going to end. Hence, I might like to quit trading XAU/USD and redo the 1 hour chart analysis.
