XAUUSD
**Repost from Dec 14th 2022 since the original post disappeared**
Hello all TradingView speculators,
In my opinion, I think there was an overreaction from the market's participation on the CPI numbers that was announced to be lower than expected. In addition to this, some technical indicators are showing us some signals to be careful on the buy side from bearish divergence signal between the price and RSI on 4H timeframe. This indication does not mean that the trend will reverse immediately but it indicates that the current trend has chances of stopping and turn into either sideway or downtrend in short term.
Based on the current price level, Risk to Reward Ratio seems to be in favor of the bears. However, I would wait to see the price action in 1H timeframe tries to test 1815 first and if it fails then I believe that follow sell position after this price action fails to go above 1815 and if price makes a lower low below 1804 can be a worthy trade