Gold Bulls have failed repeatedly at the 1745 area. However, bulls are still strong because all the drops below 1700 are being bought and supported by the Bulls. So, this is a minor set-back for the Bulls.
This chart helped me predicted that Gold will drop below 1700 when it was rejected at 1745.
In my opinion, if Gold drops in the rectangular zone of my chart, the Bulls will show up and push the price higher