GOLD has rallied amid the pandemic and displaying exhaustion against a resistance at 2070 levels.
A Bearish set up is seen on the Monthly Chart.
A Descending Triangle is in formation on 4H Chart, hence expecting a range bound play zone for a while.
A break out above could confirm the Bearish harmonic set up, for a retesting back at 2070 resistance levels and a strong downward trend, but not expecting it anytime soon this year.
XAUUSD
A Bearish set up is seen on the Monthly Chart.
A Descending Triangle is in formation on 4H Chart, hence expecting a range bound play zone for a while.
A break out above could confirm the Bearish harmonic set up, for a retesting back at 2070 resistance levels and a strong downward trend, but not expecting it anytime soon this year.
XAUUSD