Gold Weekly Technical Outlook

Gold's sharp decline and strong break of 1306.0 support suggests trend reversal. That is a medium term top is in place at 1377.5, ahead of long term fibonacci level at 1380.9. Further decline is now expected 61.8% retracement of 1045.4 to 1377.5 at 1172.3 and below. Meanwhile, above 1306.0 support turned resistance will turn focus back to 1377.5 again.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/technical/gold-weekly-technical-outlook-2016100933688/