XAU/USD SELL - 05/10/2017

Despite the fact that the price remained trading in the local consolidation, it is necessary to note a fairly sharp fall of gold on fairly large volume. It is also worth highlighting the new volume support level 1272.20, which was formed during this downward movement. In addition, this level is the lower limit of large volume accumulation, which is concentrated in this consolidation. Therefore,breakdown of this mark will be an excellent signal for the continuation of the local downtrend.

The bottom line: short positions after a breakdown of the support.