GOLD Price Action Analysis - 100-SMA crossed 200-SMA for more bearish

W1 price is located below 200 period SMA (200-SMA)and below 100 period SMA (100-SMA) for the primary bearish with secondary ranging between Fibo support level at 1077.20 and Fibo resistance level at 1232.41:

• The price is ranging between Fibo support level at 1077.20 and Fibo resistance level at 1232.41;
• 100-SMA crossed 200-SMA from above to below for the bearish trend to be continuing;
• If weekly price will break Fibo resistance level at 1232.41 so the price will start to be reversed to the bullish trend;
• If weekly price will break Fibo support level at 1077.20 so the primary bearish will be continuing;
• "XAU/USD has fallen sharply since failing at the 61.8% retracement of the May - July decline at 1170."
• "A close below 1110 will shift out near-term bias to negative in the commodity."
  

Trend:

• W1 - ranging bearish