Worries for XAUUSD Bulls

Good day traders,

We see the XAUUSD/ #Gold respect our previous analysis

, we now have a clear undrstanding of where the Gold commodity is headed. We believe that our next target is 1567 from which the price will begin to grow again. We are currently slightly oversold on the lower timeframes thus we anticipate a minor retracement. We can not confirm this retracement but can confirm that XAUUSD will remain bearish on the daily timeframe below 1600.

What are your thought on this? Please share your thoughts below.

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