Gold had the chance to break above it's last high but with it's last effort to start another impulsive move has been failed, now it is expected that gold go down to lower levels, i don't belive it would be a straight down move to the support level but rather a channel like legs with impulsivs as 1.272 fib levels, so this is my opponion and i hope it give you some idea about what is going to happen for lower time frames trades or if you are a longer time trader or investor.
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