Gold recently reversed own sharply from the resistance area lying between the round resistance level 1600.00, upper weekly Bollinger Band and the resistance level 1555.00 (top of the previous impulse wave (3) from the middle of 2019). The downward reversal form this resistance area created the weekly Japanese candlesticks reversal pattern Shooting Star. Given the strength of the aforementioned resistance area and the clear bearish divergence visible on the weekly Stochastic indicator – Gold is likely to fall further toward the next support level 1530.00 (former resistance level from the middle of 2019).