Bearish Gold / Hourly 4 chart showing Bearish values

The Price-action is extending the Neutral movements on the Hourly 4 scale Trading above the #MA50 and now eyes the #1,763.80 Support (Hourly 4 chart went from Neutral to Bearish). Gold (Xau-Usd prices on my comments as always) continues to be in range (roughly #1,768.80 - #1,778.80) since Thursday's late session with the Hourly 4 #MA50 acting as my main point of interest. Friday was flat as expected since U.S. was on the break due to holiday. The important development is that since last week, the Hourly 4 #MA50 (was different Price then) is rejected any Bearish break-out attempt, and so far on the current candle made the strongest rejection. Hourly 4 chart is an incomplete Channel Up (making Higher Lows but lacks a Higher High since the consolidation, needs to break #1,788.80 to continue), so this Hourly 4 #MA50 rejection this time, personally, haven’t got the capacity to sustain the Bearish momentum and should bring the new Lower High, with my projection being near the Hourly 4 #MA200 (first #1,747.80, then #1,737.80 which is #MA200 on Hourly 4 chart). If however the Hourly 4 Resistance is compromised and breaks upwards (#1,788.80), then this formation is invalidated. A break above #1,788.80 Technically will spike up Gold calling for #1,796.80 extension. Last week’s rebound was sustained and Gold is about to test the Lower High trend-line again of the Hourly 4 Channel Up. This should keep Medium-term Traders ready, even if the Channel Up breaks downwards, Gold still has to break the #1,763.80 Support, if Gold Investors want to reverse the Bullish sentiment, #1,788.80 has still to be broken (which is rejecting the Price-action since July #1). However the Daily Channel Up made a perfect Higher Low bounce last week, so the Short-term Bullish Trend is so far intact. This rise is of course sustained also by the Covid-19 uncertainty tensions. The Price-action is making it’s way lower on each Hourly 4 candle but on a slow pace, may be an indicator that the Bullish-leg is over. However, Gold needs to regain the Hourly 4 Support and close the session below it to confirm a reversal. Like I said yesterday with the Daily chart Neutral, I believe that today’s U.S. session will not deliver anything important. Still, don't take risks below that zone and will keep my really low (original) Volume set of Sells. Will not hesitate to add more if the Price-action gets close to the Support.