Gold is now trading under the ascending trend line resistance after a big rejection in weekly chart, as well as in daily chart too. And RSI also on Over bought zone.. Here I think it has chances to come down to touch its support line @ 1365.
Rejected/Bounce from the strong support level, & as we can see this has also touched the last low of Jan 2016. However we got here a RSI bull divergence too. So we can expect for uptrend / trend reversal from this level.
XAUUSD ( GOLD ) Can take downward move, XAUUSD formed a wedge on Weekly & Daily charts . On daily chart there is a strong Pin bar and also touched the strong resistant area.
Rejected from support level and formed a Pin bar. I am seeing the next like this. Please look the chart..