GOLD/XAUUSD FORECAST

OUR TECHNICAL ANALYSIS POINTS OUT THAT WE WILL BE SHORTING GOLD/XAUUSD AND THE REASONS ARE:

1. The market broke our ascending channel to the downside

2. It formed a bearish flag which indicated a continuation move to the downside

3. The market then broke below our flag and a very strong zone of support

4. We now anticipate for price to retest our resistance zone and continue dropping all the way down to our horizontal line at the bottom