Gold recovers notably today but after all, it’s staying in consolidation from 1747.75. Intraday bias stays neutral for now. It looks like the corrective pattern would be unfolded as a triangle. Still, deeper fall cannot be ruled out. But even in that case, downside should be contained by 38.2% retracement of 1451.16 to 1747.75 at 1634.45.
An upside break out through 1747.75 is expected sooner or later. Larger up trend form 1046.37 should target 200% projection of 1046.37 to 1375.17 from 1160.17 at 1817.77 next.
