GOLD (XAUUSD): Detailed Technical Outlook 🥇

Gold is trading in a minor bearish trend on a daily.

Lower highs are perfectly respecting a falling trend line.
After the last test of that, the market started to consolidate on a 4H time frame
within a horizontal range.

Bearish breakout of the support of the range is an important sign of strength of the sellers.
We can anticipate a further decline next week.
First goal will be a current local low - 2006.

If the price violates that, we can expect a movement lower at least to 1990 level then.

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