As we can see that the price has broken the trendline, and hence came down and again retested the trendline and went down again. In this process, there was a pattern formed which we call the head and shoulder pattern, so basically, the gold is bound to go down up to 1730 IMO. But we cannot trust the technical analysis as other forms of factor make the price move....
The Gold Movement shows a downtrend in long-term, but in daily and hourly we can see it has to bounce to the 183x zone to further fall!!
That is just my analysis
Cheers
