Current decline in gold suggests that corrective recovery from 1810.07 has completed at 1875.59 already. Focus is back on 1810.07 support. Break will resume the decline form 1959.16 for 1764.31 low and below. Though above 1844.72 minor resistance will delay the bearish case and bring more consolidations first.
Overall, Gold is still extending the correction from 2075.18 high. Break of 1764.31 should be seen. But we’d expect strong support from 38.2% retracement of 1160.17 to 2075.18 at 1725.64 to contain downside to bring rebound.
