Pivot point: 1897.00
Preferred scenario: Short positions below the level of 1897.00 with targeting levels of 1844.00
Alternative scenario: Stop loss and change direction by breaking the 1907.00 level with targeting 1965.00 levels
Comment
The price of gold on the four hour frame is moving in a downward direction from last June's high, specifically from 2075.00 levels, to move in a downward price channel from then on
The price also fell from the resistance area 1907.00-1897.00 in conjunction with the upper boundary of the channel, and the price is forming a secondary ascending channel that serves as a pattern of the complementary flag of the trend
Once it is broken down, we will resume the downside move to 1844.00, then 1807.00 levels
