IMO if during LDN gold breaks 1800, could go as low as 1770ish if it doesn't and breaks out back above 1813-1816 i reckon it will then begin the uptrend but may not have enough power to plough through all the resistance levels still has potential though, ill be keeping an eye on 1826, 1845, and 1880 and if it manages all those 1900s en route...
I could be wrong BUT it appears Gold is about to fall.. where to? No one knows but I have drawn up where i believe the daily support level is and if the structure highlighted is broken then we can look for a sell
Gold is currently consolidating in the highlighted area before it plummets through the earth.. there is divergence across all time frames, and a lot of price rejection.
Gold usually follows the same patterns as oil so we can expect to see price reach an all time low ;)
Just wait to see if price breaks 1670.00 - then ride it all the way to the bottom
GOLD has just retested a very low price point region and has just formed a head and shoulders pattern on the 1 hour timeframe.
Along with RSI and MACD confirmation this enough for me to BUY big lots in gold holding this position till at least the 1494 price point, however we could be expecting all time highs!!
Hold positions for as LONG as possible :)