GOLD Where To Next Now 1700 Is Broken ? Likely Path For XAUUSD

We have finally got a WEEKLY close on GOLD under the 1700 level which was a huge support level at the bottom on the sideways DISTRUBUTION range we have been in since 2020 so were to next ?

As you can see the green levels I have marked on the charts we have a MONTHY DEMAND/BUY zone that starts at 1600 and a Weekly DEMAND/BUY zone starting at 1630 so I expect the market to drop pretty quickly down towards 1630 then get a reaction there for retest of 1700 then a sell of again down towards the Monthly DEMAND/BUY zone at 1600.

How will I play this ?? Will look to BUY and SELL

I will look for my indicator to give me a BUY siganl at the Weekly DEMAND/BUY zone at 1630 on the Daily charts and will target 1700.

I will look to SELL the market on a Daily SELL signal at the 1700 area

For my analysis to be invalidated then the we would need to see a weekly close back above 1700 pretty quickly .

Hope you enjoying the idea