Resistance: 1601.22 strong/1610.32 moderate/1623.77 minor
Support: 1587.77 moderate/1578.67 minor/1565.22 minor
XAUUSD is in a bear market in Hourly charts. We have a high level bearish pattern in the Three Outside Down confirming market direction though proximity to a moderate support at 1587.77 suggests we should look for prices to push under said level before jumping in. Immediate target for sells will be 1578.67 then possibly a push on to 1565.22. Stops should be placed above the pattern high.
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