This is a possible bearish scenario for gold to make a double bottom before taking off. The weekly pattern is similar like when it made a double bottom at 1266 before taking off for 1555.
We will get a retrace to 1463 +/- $2, make a double bottom at 1446 (161.8 fibo extension of Friday's candle) and then go to 1491.
We will get a retrace to 1463 +/- $2, make a double bottom at 1446 (161.8 fibo extension of Friday's candle) and then go to 1491.