As I kept saying last week, there is a high probability of a double top pattern for Gold and the 1680-1690 zone support was the only thing that stood in bears way and a confirmation of this pattern. Now we have this break and, of course, we wonder if is a genuine one. In my opinion, it is. With this in mind, I expect a continuation to this fall and a drop, in the first instance, around 1600. Gold bears should look to sell rallies in old's support zone, now resistance. And negation comes with Gold back above 1700.
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