XAUUSD: Has gold reached bottom? We think so

Gold is back to its june 2020 lows at a high confluence zone: the downward trendline is crossing the support line at the 1(1687.006) fibonacci level run to 4 different highs!. This level is critical. If price manages to fall below that level, bears will have a long streak of profits running for months to come. However it's possible to buy back the daily 50 EMA, more likely.