a daily price action after hour update - gold

Good evening and i hope you are well.

For gold i updated my weekly chart and bears proved me very wrong. Here my quote from the weekly outlook:

short term: slightly bullish to top of triangle, invalid below 2030

Obviously they did break below big time and now bulls are doing everything they can to keep this above 2000.

bull case: Bulls have to keep this above 2000 or bears will take over and push this to 1950. Since we are in a big trading range for a long time, odds favor the bulls for a short term bounce, probably to around 2020/2023 where market decides what’s it gonna be next.

bear case: Bears broke out of the triangle and closed the bullish gap, now they need follow through. If they are strong, they should be able to keep it below 2030 and then sell to their first target 1990 and then 1950.

short term: bearish - expecting some smaller bounce before more down

medium-long term: odds for the bears risen significantly today. if they can get follow through, we will form a proper bear channel soon from which we can calculate new lower targets below 1900. still neutral until follow through

trade of the day: short below the CPI bear spike for bet on follow through