Lets come to fundamental side before, we witness a blast in gold price after 2008 recession & gold price almost double in just 3 year span while in last 2 year gold also corrected more than 50% from the life time high. This is the biggest correction in past 12 years in gold & may remain always. Gold rallied from 2008 on basis of safe haven buying , alternate & safe investment , later on the based on QE program from US & many .
Today there is a major trend change on the Gold Weekly Chart which had turned to buy mode on the Weekly Ichimoku Charts. 10 Years of Gold Historical Charts are shown for your reference. Interestingly Gold Haven’t yet tested 200 Week Simple Moving Average on the Weekly Charts. Weekly Supports are coming around 1730-1738 zone. Breakdown below this zone could warn trend reversal.
As per 13-13 Wilders moving average channel offset trading system Gold on the EOD chart is in range bound between the support zone 1718 and the resistance zone 1754. Breakout or Breakdown determines the trend direction.