Potential triangle in Gold is playing and still meeting the requirements, so another downtrend is preferred.
The recent strong reaction would give a hint to a possible turn in Gold. However, it's not safe to say if Gold has bottomed up. Behavior after Gold comes in level range: 1120-1125 will help analyse the long-term trend. Another leg down is absolutely still possible. Stay neutral...
Should see Gold to bounce back soon, but do not know how long-term direction plays out. Stay neutral at the moment.
With all corrections done on last Friday, preferring to see GOLD start another down move on Monday.
Watch out for this level for a short-term period. 1172.74 was play roles of 2 previous supports.
Correction keeps making a shape today and also on Monday maybe. Shorting GOLD is still preferred, but need a little confirmation.
We probably would see some more corrections on Monday before the down trend is back. Buying is risky and selling is wise.
Market currently offers a good opportunity to short on a potential down trend ahead. Positions at current market is low-risk and high-reward. Stoploss: 1207 Open: current level Target: 1176 - 1168