GOLD Technical Analysis

• GOLD went below the order block
• The price might retest 1800
• 1793 is the final target
• W L3 is important level

DAILY CHART GOLD

1. Top of the price
2. Higher high
3. The Megatrend cross
4. The first target

The price is currently bouncing off the zone. We could see a continuation down if the market gets bearish momentum.  As the price is struggling to go further up, traders might be looking to liquidate some of their longs, thus accelerating the move down. If we see a bearish momentum look for W H3 camarilla pivot as the next target -1800. Further continuation down suggests W H4 camarilla target 1793. It is the end of year profit taking so we should see volatility in next few days.