OANDA:XAUUSD   Gold Spot / U.S. Dollar
This chart has a bearish market structure that has chopped out into a range between the 1479 - 1498 price range.

Note the yellow bar that I've marked where price hasn't been able to break the highs and keeps falling down with aggressive bearish bars, this tells me there are more bears than bulls here but it's not set in stone. I like to react instead of predict the market moves so for now I wait. Given the current characteristics on the chart my money is on the bears. I will wait for a breakout and signal before shorting to avoid trading a false breakout.

For a bullish view I would prefer the capped trend line to be broken before considering to buy.

Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.

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