XAU/USD Short: Fading the Sideways Grind Near Range Highs

Market Structure & The Overextended Bounce

Looking at XAU/USD today, we're seeing Gold trading at 2927.44, up a modest 0.25% on the day. While some might see this as a continuation, my analysis suggests we're nearing the top of the current sideways consolidation range. The day range has been between 2916.28 and 2938.