Gold prices have been consolidating since it made a new low on the year last week at 1130. It has since pulled back to 1178.75 and developed a triangle consolidation during this week.Gold (XAUUSD) 11/14 4H Chart(click to enlarge) The 4H hart shows a market in a triangle breakout to the downside, in-line with the prevailing downtrend. The price action, moving averages, and RSI all reflect a bearish market, so the break signals a bearish continuation. If price can hold below 1160, the immediate downside risk will be toward the 1140 and 1130 lows on the month and year. It should be noted that during the consolidation, price respected the 1180 level as resistance. This was the 2013-2014 consolidation support broken at the end of October. Holding under it as resistance adds weight to the bearish continuation scenario.The weekly chart shows us that there is more room to fall.Gold (XAU/USD) Weekly Chart(click to enlarge) The weekly chart also shows a bearish market through price action, the moving averages, and the RSI reading. After the break below 1180, gold has opened up another medium-term bearish outlook, for the next few weeks or even months. Where might we expect support?1) 1100 psychological level2) 1040-1050 area, involving the 2010-low3) 985-1000 area, involving the 2008-2009 resistance levels and the psychological level: 1000.