DAILY - Gold was on the critical condition, not only broke last week Low (1644) but it broke last month Low (1627) as well and declined as far as 1611. Today, gold needs to cross 50% Fibonacci and stable above 1629 to flip back on the upside, otherwise it will test yesterday Low and even lower.
Meanwhile, we see new harmonic pattern on time frame 4H which is Bullish Butterfly, that means that gold still got a chance to go up and crossing that red thick line would be the confirmation.
Note: If the price breaks 1614 and stable below that level, then Gold might be go further down and testing December 2011 Low around 1522.
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