1. We saw Gold coming out of the without any retracement.
2. We saw forming a on the , but then the bad news boosted it to further heights.
3. Friday rejection on the weekly resistance was shown.
4. On multiple timeframes, is overbought, although Gold doesn't respect that much if we see the previous times when the reached that height it always came back down.
5. Gold didn't break the weekly resistance even with the worst data in the last 10 years.
6. If we look at monthly chart we can see pattern forming all the time. At the moment we are on the height for a right shoulder before the drop .
Let's look at the external facts.
EXY match the gold one - a , long, long, but the uncertainty around Brexit acts both ways - UK and EU.
DXY got rejected on the bottom of the , so retrace is now expected.
In general, I think that in a long long long term we are looking at eventually Gold going over 1400, but now it's not the time. We should be looking into going further depths to around 1250 before making another attempt to break the 1350 resistance.
8. China’s facing a problem because of the tariffs, which puts more pressure on their side, so a meeting has been arranged with Trump.