Gold has been struggling to make new swing highs in the last few weeks and as a matter of fact, it's trying to make a daily corrections. However, overall outlook of XAUUSD is still bullish . If gold touches 1697 and rejected, it could reverse at this level, but if there is no rejection, we might possibly gold going lower to some support levels.
Gold could also possibly continue to go higher creating new higher-high (High Risk for new entrants)!
N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
I agree that it’s still bullish and after all those consolidation going to make higher high this time by targeting 1800. However for doing that I think 1697 it’s a bit too low for a short time frame. My initial thought was that it finds a support at 1710.
BullBearMkt
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@Trade_them_all_, Great comment!. The low supporting 1710 has once been broken, so it'll be much easier for price to break it again short term. So the next swing low yet for price to break is at 1670, hence my selection of 1697 support! Anyway, Gold market maker can do whatever they like coming days...