GOLD. Short term decline.

In the coming week, the trading instrument is likely to reach a short-term target - the support level of 1944.

The CoT gold report data reflects an increase in bearish sentiment, namely an 8% decrease in buyers and a 5% decrease in market capitalization. Continuation of this trend may contribute to lower prices for the precious metal.
Data from CoT reports on the dollar index (USDX) reflects the growth of bearish sentiment on the US currency (especially among large speculators). Large funds have broken through the lows of the current year in a net position on the growth of the USD, updating the lows for the last 22 months; hedgers are close to it. Large speculators reduced purchases by 5% over the week, sales were also increased. Continuation of this trend may contribute to the decline of the US currency.

Based on the data of CoT reports and co-directional bearish forces (USDX), (GOLD), there is a high probability of a flat movement of the trading instrument.

Based on my vision of the market, I can add the following, the price received a reaction from the assumed resistance zone of 1978-1985, from where I expect a decline to the 1944 target.

Entry into positions is carried out only when a confirming pattern is formed.
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POC - the price level at which the largest volumes were traded.
CHOCH - Trend change.
BOS - Violation of the structure.