Gold failed to break through 1833.91 resistance again today. It reversed earlier gains in response to much stronger than expected ISM services data. The development suggests that consolidation pattern from 1833.91 is extending with another falling leg. Still for now, further rise is expected as long as 1789.42 support holds.
On the upside, firm break of 1833.91 will finally confirm resumption of rise from 1750.49, for 61.8% retracement of 1916.30 to 1750.39 at 1852.96.
