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Short

Sideways within the 1D Rectangle. Last attempt to break lower.

FX:XAUUSD   Gold Spot / U.S. Dollar
The 1,187.83 - 1,214 1D Rectangle's Resistance worked again as a rejection point and Gold             reached 1,192 on one single 4H candle (STOCHRSI = 0.984, Highs/Lows = -4.7528, B/BP = -9.5420). Equally sharply, it rebounded on a 1H Harami Bullish candle, indicating the strong support presence at 1,187.80 - 1,192.00. With DXY             expected to hold the 93.70 1D Support and USDCNY             to continue its bullish channel , XAUUSD             should test 1,187.83. Despite the current neutral ( Rectangle ) trade on the short term, the trend is still bearish on the long term so a practical suggestion would be to short every rise to the Rectangle's Resistance within $5. We nevertheless keep our short (TP = 1,180.50 and 1,172.20 in extension). Last week closed in gains (+0.49%) but the monthly candle remains in losses (-0.36%) on a practically intact bearish sequence (5 straight bearish months). Ahead of the Fed Rate Decision mid-week, this is fundamentally the last attempt for Gold             to break the neutral short term bias.
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Thanks for this.Would you please clarify the meaning of the blue, yellow, red and green horizontal lines?
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