Where price of gold choose it ways?
Gold dropped below level 945 (below the lower bound of “B-B+” uptrend). That cleared the way for further dropping to support level 903. Resistance is currently at level 954. In case of upwards motion, we can’t say that current downtrend is changed to uptrend until gold rises above level 977; and if so, gold will reach key resistance 997 (“Z” trend line). The interval between levels 955 and 977 is a neutral zone. While staying in that zone, either direction of further motion can’t be guaranteed. For now, we keep waiting until support 903 is reached.
Having stopped slightly below the strategic resistance level 998 (“Z” trend line), gold eventually formed up a “double top” trend-turning figure at H4 graph (denoted as “a-a+” trend) and executed it after getting under the level 967. Such an event is a very important signal for “B-B+” daily trend’s turn. I’m expecting its lower bound to be broken shortly and, if gold goes under the level 945 (under the “B” trend line), the uptrend will be changed to downtrend and gold will set the target of lowering to support level 903