Resistance: 1588.72 moderate/1601.64 minor/1618.51 minor

Support: 1571.85 strong/1558.93 moderate/1542.06 minor

Market appears to have a bullish bias in XAUUSD with Bearish Harami well resisted by 1588.72. Given that we have a low level bearish reversal pattern it would be best to look for a confirming black candlestick before jumping short. Stop loss should also be placed just above 1588.72 while the price target is 1571.85, possibly on to 1558.93 if the former breaks. The pattern high may also be used as a stop loss area.

Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices