Gold: monthly timeframe now points to 1670-80s

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Gold have shown bit but not convincing reversal signal. If gold is to be found below 1700 again the next target should be at 1695-80s which once broken comes 1677 a move to 1660s not ruled out. If the downpart of the yellow uptrend holds that keeps gold hopeful of move back to 1878 and year high. Break below 1660s to limit upside potential and kill dream of move up to 1878 and year high. At 1660s we start looking for buy to keep opportunity if hold another option down is 1640s. At the mean time we keep looking for convincing reversal signal.

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