Gold’s rebound from 1810.07 was stronger than expected and broke 1863.51 resistance. The development suggests that the first leg of the fall from 1959.15 has completed and stronger recovery could be seen to 61.8% retracement of 1959.16 to 1810.07 at 1902.20. But upside should be limited there to bring another fall.
We’re still holding on to the view that corrective pattern from 2075.18 is not completed yet. Below 1832.40 minor support will turn bias to the downside for 1810.07, and then 1764.31 support and below.
