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I have been mentioning about the possibility of a retracement in gold price to 1160 at least https://www.mql5.com/en/blogs/post/653777. Level 2 set up indicates the potential of a retracement to even 1183 and the possibility of the gold price ranging between 1183 and 1104 before closing near 1077 for the year end. There is no doubt that the price is on a bear trend and a drastic fall is imminent, hence will be vary of the possibility of prices continuing to go down. Today's price movement could hold the key. If the price goes below yesterday's low, expect the price to fall drastically this year, but if the price goes above yesterday's high, expect the price to range between 1183 to 1077 for the remainder of the year.
