XAUUSD BIAS: Short

Currently, the gold is at the supply zone lingering and showing rejections of the zone, which is an indication of the bulls becoming uninterested in the price of the asset. If finally, the bulls show no more interest in the current gold price, then expect it to drop down to the demand area where we could see the bulls coming in to push the price higher.

Bias: we remain bearish as long as the price is below the supply zone. But the moment the bulls are successful in breaking above the supply zone, then we turn bullish on the market.