Point 2 is strong weekly resistance, looks like gold will going down to point 3 above 1595 , if this is happen so there will be uptrend shape as long as not broke trend line.
BY MATT DAY (online.wsj.com)
NEW YORKâGold futures fell for a third day as a rebound in the U.S. dollar and weakness in U.S. equities markets kept pressure on the precious metal.
The contract for October delivery settled $5.70, or 0.4%, lower at $1,646 a troy ounce on the Comex division of the New York Mercantile Exchange.
Category: Gold Patterns Update