Update for Gold: as you remember, we spotted earlier that the market is trading within a major falling parallel channel on a weekly.
Analyzing a daily time frame, I spotted an inverted cup & handle formation. 1614 - 1622 is its neckline.
I believe that a trend-following movement will initiate soon. To confirm that, I am patiently waiting for a bearish breakout of the underlined yellow area. We need a daily candle close below that to confirm a breakout.
Then the market will drop at least to 1590.
But, for now, be patient, and wait for a breakout first.
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