Gold broke out the bear flag, continue to go short?

Gold broke down the bear flag as we are looking for since 21 October. The progress of stimulus check plan is still not that clear, I will expect gold to dump to at least $1880, which is the previous low, it will act as short term support. If it broke that level, maybe we will see gold continues to dump to the Fib retracement 0 level, near the bear flag target, which is about $1848.

Remember to set stop loss to prevent fake out when doing breakout trades.