Following a recent downturn, gold has retraced to a significant structure that was recently breached.
I've identified two strong bearish signals after its test: the price broke below the neckline of a double top formation and also fell below a resistance line associated with a bearish flag pattern.
These breakouts suggest a strong likelihood of a continued bearish trend.
It is highly likely that the market will keep declining, reaching the 2646 level shortly, followed by the 2637 support level.