Gold is Bearish on Medium-term

Despite today's E.U. opening stagnation Gold is showing high durability as it remains on Lower High relative to Tuesday's and Monday's Higher High’s. Despite the new High lately on Stock markets, the continuous dip on Bond notes and of course the parabolic Hourly 4 chart dip on DX, Gold hasn't made a new Higher Low this week - but sooner it later it will, making me believe that the underlying trend remains Bearish and Price-action is Trading on local Lower High’s - as I doubt it will stay this way for long. Further argument for it is that the Weekly chart is defending the further downside movement and Gold should break the semi-Support soon enough (any break below #1,765.80 is an full Bearish confirmation). My advice for Short-term traders is to Sell Gold on tight stops whenever they see Daily Bullish candle on Stock markets, keeping in mind that the market has to make needed correction, can’t only trade in one direction. The Hourly 4 #MA50 remains my main point of interests and my Target zone when Support breaks. If #MA50 is compromised, then I expect another #1,717.80 extension (May #25 Low). What followed last #MA50 break was an aggressive # -1.17% decline (#89% probability), so I expect the similar scenario at the moment. However as long as Gold don't break #1,765.80, I can't confirm Bearish reversal - also if #1,775.80 Resistance breaks, Gold could extend #10$ more but only on Short-term, since on Medium-term, Gold is Bearish. Gold continues to consolidate on the Hourly 4 chart as the #1,747.80 - #1,757.80 Support zone holds. The Bearish U.S. data were unable to stop the Stock markets from making another parabolic jump as it continues to add Selling pressure on Gold and on the bright-side Gold is holding and isn't rising more. As I have been mentioning all week, this only shows the underlying strength and how Long-term Investors defend the current level. My perspective is unchanged and all my previous levels remain valid. If the Resistance zone holds today as well, then by Monday it is possible to see an aggressive Hourly 4 decline to #1,747.80. What is worth noting also is Gold-Silver correlation which have been almost identical for the past #70 years (compare the Price-action and check resemblance). But on March #17 #2020, parallel resemblance is disconnected as it reached #120 points difference. Last time it happened was #1,947 year, and it was a messenger of new monetary policy, which is the same case now after all Years passed. I am again utilizing Breakout Trading strategy and will wait for Support break to engage second set of Sells.