Gold is short

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Basically what we can see is that gold is creating lower highs meaning there is a down trend happening. But there is a strong support line on the 23.6% Fibo area.
Nevertheless its is still trending down so we can expect that 23.6% level will be tested again and that will be the area of 1st TP. Should it breaks through 2nd TP will be at 0% level.

Let's keep the technical simple and easy for all to understand.

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Nice movement to the down side on gold
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TP1 Bagged. Awesome.
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FibonacciGoldSupply and DemandTrend LinesXAUUSD

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