Possible Selling sequence on Gold

Despite the rejection on the previous Hourly 4 candle, Gold is expected to resume the downtrend (Short-term) due to mainly the Friday's Bullish opening on Stock markets. The much higher than expected market sentiment is the catalyst and Gold (as it stopped being used as safe-haven) should finish next week in deficit. As mentioned, personally I don't see Gold going much higher than the #1,969.80, which now represents strong Resistance. Keep in mind that Gold is also pressured by the strong rise on the Bond notes these days. Strong reminder: If you want to project the Short-term trend on Gold, always use the Hourly 1 chart. Hourly 1 chart is Channel Down as the Price-action already broken the #MA50, representing strong Bearish presence. The former Support of #1,969.80 has turned into a Resistance in a symmetrical manner as it has done throughout June-July, and Gold is eyeing even lower level. Looking at the wider time-frame of Daily Rectangle and the Higher High trend-line of the broken Ascending Channel, I am expecting a decline around #1,908.80. Gold should see a similar pullback of June #15 - #21 towards #1,882.80 again, and then #1,871.80 Lower Low, if not even lower since #2020 is projected to be Bull Year on Stock markets. As the market is waiting for a catalyst, I see no alternative under such a Neutral setting but to continue Selling the market. There is a delicate balance of Gold's Price-action with the volatility on the U.S. Stock markets with DX - and Bond notes (which are soaring). This is what is keeping Gold Neutral but on Negative gradient relative to last month. My outlook is intact - #1,965.80 break/Price-action will be calling for #1,982.80 extension, below #1,939.80, session low can be found at #1,908.80. I will Trade the breakout.