Overview of Gold – Bearish Sentiment Seen in This Week The XAU traded lower against the USD and closed at 1280.34. What do we have in the shiny material? 1) Bearish ABCD Pattern. 2) "C" @ 50% Retracement. 3) "C" @ Monthly Pivot. 4) "C" @ the Value Area Low of - 2 Week. 5) "C" forms a Double Top in it - self, followed by 61.8% retracement. 6) Forms a support trendline from D1 Pivot Candles. Scenarios: Bulls need to break above Month Pivot. Bears need to break below the D1 support trend line. According to the Analysis, The XAU/USD pair is expected to find support at 1277.77, and a fall through could take it to the next support level of 1275.20. The pair is expected to find its first resistance at 1284.25, and a rise through could take it to the next resistance level of 1288.16. XAU USD Previous Day range was 6.48 and Current Day Range is 31100.