GOLD 4H (SHORT-TERM)

GOLD forecast

Gold is moving away from the two-week peak due to the recovery in US yields

Gold prices declined in the European market on Monday at the beginning of the week’s trading, moving away from the highest level in about two weeks, in light of the relative activity of correction and profit-taking operations, and due to the recovery in the yield on ten-year US Treasury bonds.

This week, investors are looking forward to more strong evidence about the future of interest rates in the United States, especially the minutes of the last meeting of the Federal Reserve. ‏

Technically:
The price reached its resistance line which was 1986 and reversed

So, in general, stability under 1976 will support bearish to reach the next support in 1963 by closing 4h candle under 1962 will get 1950 too,
But as long as the price trades above 1963 will remain upward trend to reach 2007

Pivot Price: 1976
Resistance Price: 1986 & 2007 & 2020
Support price: 1963 & 1950 & 1832

The movement range will be between 1986 and 1950