GOLD has fallen from the global peak by almost 18%, which is a very strong move. From the 1800 mark, the chart shows a strong distribution without any long-term consolidations, and there is a strong liquidity zone 1690 ahead, I think that at this mark the distributive movement will end and the price will either go into a consolidation phase or a sharp pullback will form.
My guess is that zone 1689 can be tested but not broken and we might see a rollback. My mid-term target is 1747 resistance.
My guess is that zone 1689 can be tested but not broken and we might see a rollback. My mid-term target is 1747 resistance.