GOLD (XAUUSD) Stuck In Consolidation

for a quite long period of time, I have not shared with you my thoughts on gold.

the things are very simple:
we saw a massive expansion at the end of December and expansion always leads to contraction.

from 8th of January, the market has started a correction cycle and it looks like we are forming a classic market pattern:
symmetrical triangle.

it is symmetrical because the market respects the same 0.786 fib level with the descending boundaries.
with that in mind, the consolidation may proceed and we can expect a bearish reaction from 1580 - 1585 area.

we will keep following gold within the triangle and wait for an occasional breakout to the upside or to the downside
as a clue for understanding the further steps of the market.

good luck!

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