The GOLD is very bearish. The price is consolidating below 1550 and 1450. While the price is below 1550 we should see a move lower.
1550 zone is the crucial for bearish downtrend. New rejections should happen between 1525-50 towards 1475. If we see a close below 1475, watch for the bearish continuation move towards 1440 and 1420. 1420 is a W L4 camarilla pivot and ATR projection low. Only above 1550, we might see a correction towards 1583.
Many green pips,
Nenad Kerkez aka Tarantula FX