Gold drops notably today to as low as 1278.29 so far. Immediate focus is back on 1276.76 cluster support (38.2% retracement of 1160.17 to 1346.17 at 1275.45).
Sustained break of 1275.45/1276.76 should confirm completion of whole rise from 1160.17. Deeper decline should then be seen to 61.8% retracement at 1234.42 and below.
Nevertheless, break of 1290.10 minor resistance will argue that 1275.45/1276.76 is defended again. Another rise would be seen to extend the consolidation pattern from 1346.71.
