GOLD (XAUUSD): LOWER HIGHS AND LOWER LOWS EXPECTED, 1700 SOON

Gold will stay below 1848 because of the supply zone and the Fib 0.618. The candles predicate that this area cannot be broken. Downtrend is respected.

As you can see gold makes double top lower highs and double bottom lower lows which means there is a huge potential for the elliott wave.
I expect the elliott wave will occur for the second time.

1st TP: 1802
2nd TP: 1766
3rd TP: 1730
4th TP: 1702
Even lower points can be reached in the next weeks