The orange line represents the initial bull rally starting in mid december for gold. Now coming to an end of a financial quarter we can see XAU leading into bear territory for the next financial cycle. Notice how we jus tap into the trend line and start selling off. this leads me to believe the next zone XAU is gonna tap is the purple line which represents the first initial bear impulse after the huge rally we say christmas 2019 till jan 8th 2020. A retest on the .618 fib can be seen in this downward expecting price to fall to a lower discount rate for buyers to be able to buy it back up.