Under Pressure
Our Pivot: 1817.40
Our Preference: Start short selling XAUUSD below 1811 with strict stop loss of 1817.40 and profit target at 1803 with extension towards 1799 and 1797.
Alternate Scenario: Upward penetration of 1817.40 will call for 1823 and 1829.
NOTE: XAUUSD is being capped by a resistant trend line along with a strong horizontal resistant region, meanwhile hourly momentum indicators have changed their direction towards bearish side.
Chart with supports & resistances:
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