After looking at the XAUUSD graph we see that it hits an area of resistance every time it gets to the top resistance level. After it hits this point there has been a huge sell off down to the middle support level. We saw that it hit the resistance level and since then there has been a sell off. I believe that it still has potential to go down further before doing a reversal and hitting new highs.
This is my first post and analysis and it would be great to see what you guys think