Gold (XAU/USD) has been rallying since the Fed announcement last week. Remember the Fed raised rates and provided guidance for 2 more rate hikes in 2017, a much expected tone. There was the classic buy-the-rumor-sell-the-news reaction with the USD, which gained ahead of the rate hike, and fell immediately after.The rally in gold, was mainly due to that USD-reaction. However, the prevailing mode has turned bearish since late February, and I still think there is downside after the recent upswing. Gold (XAU/USD) 4H Chart(click to enlarge)Resistance Pivots:- Price has rebounded from just under 1200 to about 1235. - Here, we see a support/resistance pivot. - There will be another resistance pivot around 1245. - But ,we are already seeing a bearish divergence.- I would anticipate some selling here that might bring price back to test the 1220 pivot, and possibly push it back towards the March lows just under 1200.