My set of Sells intact / Gold near Top / Selling sequence ahead

The former Resistance/now Support of #1,747.80 (Xau-Usd on my reports) has turned into a Support in a symmetrical manner as it has done throughout May, and Gold is eyeing even lower level on Medium-term. The Resistance zone was at #1,778.80 on Hourly 4 chart but looking at the wider time-frame of Daily Rectangle and the Higher High trend-line of the broken Channel Up, I am expecting a decline around #1,747.80 first. Personally potential Top zone is around #1,788.80 - #1,795.80 and that should be strong Trend reversing point where I will add second set of Sells but with usual Volume and pursue lower Targets. Technically, Gold should see a similar pullback to that of May #20 - June #6 towards #1,747.80 again, and then #1,695.80 Lower Low, if not even lower since #2020 is projected to be Bull Year on Stock markets. Short-term Traders should trade with caution today as market is not suitable for Scalping entry. However, no changes on the Daily perspective as the Price-action remains Neutral above the Hourly 4 #MA50 and near the Resistance. As the market is waiting for a catalyst, I see no alternative under such a Neutral setting but to keep my smaller Volume set of Sells and contemplate adding more. There is a delicate balance of Gold's price with the volatility on the U.S. Stock markets and DX (Stock markets on Bullish Gap fill, DX Neutral) and Bond notes (which are struggling to make a Bullish comeback). This is what is keeping Gold Neutral but on High levels relative to last month. Despite the negative trade negotiations and Bullish Gap fill on Stock market, Gold is kept Supported above #1,758.80 (first Support) and currently on positive gradient due to the Covid-19 outbreak. However I don't expect those to play that big of a role in the coming days. At the moment Gold is above the Resistance on Hourly 4 chart as I am not interested in further Buying. All charts are firmly Overbought, and I expect Gold to normalize those levels and #MA50 test within #3 sessions. Gold is surely Bullish on the Long-term but these Gold levels are overpriced as fair Gold value lies near #1,717.80. However Weekly chart has to test the the #1,710’s zone before reversing towards #1,766.80 again (recent Yearly high) as it was always rejected no sooner before that zone for the past #7 years. This Bullish spike on yesterday's U.S. opening Bell (regarding Gold) is nothing unusual since whenever session is packed with announcements and Powell’s testimony, Gold tends to spike up. What will cause this fall on Gold is a combination of Trade optimism (Stock markets rise, Investors taking Profits on #1,770’s levels on their Buy positions) but mostly in my opinion Overbought levels. I should first see both assets soaring before Gold starts recovering the lost ground. Target is #MA50, Hourly 4 chart priced at #1,747.80, if broken - Price-action will be calling for #1,717.80 extension and Bearish sequence similar to March #9 - #18.