Gold Weekly Technical Outlook

Gold's consolidation from 1045.4 is still in progress and outlook is unchanged. After all, gold is staying well inside a medium term falling channel. Such rebound is viewed as a correction and could be limited by the channel resistance (now at 1143). The downside is still expected to extend lower through 1045.4 in a later stage.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/technical/gold-weekly-technical-outlook-2016012332195/