Gold is still Bearish on the Medium-term

Regarding August-early September cycle, I am on #12 Profits and only #2 Stop-loss hits (not more than #11$ on both) as I am highly satisfied with my Profits. The Price-action is under pressure early on into the E.U. session, as the Hourly 1 chart broke below its Support #1,927.80 on Friday's session on more than #1 occasion, so this is not a consolidation anymore and is just about to test the Hourly 4 Support #1,924.80. What Bought back Gold's Price-action and reversed it on Intra-day basis (Friday) was a decline on Stock markets which added huge Buying pressure on Gold. Gold printed full Engulfing Bearish candle below the Hourly 4 #MA50 and is widely showing that underlying trend remains Bearish. A break below #1,924.80 will see Gold test the #1,900.80 psychological barrier and even #1,882.80 in extension. One aspect to keep in mind: there is Death Cross formation on both Hourly 1 and Hourly 4 chart (last time it occurred was October #10, #2012 Year), so it is no coincidence that Gold is both Technically and Fundamentally equipped for the decline. On the other hand if the Resistance of #1,955.80 breaks, my outlook could be postponed but not invalidated. It all depends on Stock markets and if they can sustain this Bearish rebound early on which is adding Buying pressure on Gold. Technically there is room for Bond notes to grow much higher, so Gold will be under more Selling pressure, especially if the Stock markets resume their recovery and Bullish trend (right now they are pulling back and is the reason Gold hasn't fallen more already). The Price-action is headed to Lower layers on each Hourly 1 candle but on a slow pace which may be an indicator that the decline is far from over. Hourly 1 chart is still a healthy Channel Down and only closing above #1,955.80 is a good sign for Buyers. I don't believe today's session with low Volume will bring much, but Death Cross on Hourly 1 chart may postpone the Bullish trend for good. I will engage my set of Sell orders #1$ below the Support calling for #1,900.80 extension.