Price drops further and reached new lows. It could slip much lower if will manage to close below the 1288.12 previous low. Gold is expected to touch the confluence area formed between the 38.2% retracement level with the first warning line (WL1) of the ascending pitchfork. A valid breakdown through the mentioned confluence area will accelerate the sell-off, while a rejection or a failure to reach it will send the rate higher again.
