Gold edged higher 1906.74 earlier today quickly turned into a deep retreat, follow global risk aversion. Though, downside is contained well above 1819.05 support so far. Thus, near term outlook stays cautiously bullish. We’re holding on to the view that corrective fall from 2075.18 has completed at 1764.31 already. Above 1906.74 will resume the rebound from 1764.31 to 1965.50 resistance next. Firm break there will further affirm this bullish case and target 2075.18 high.
However, break of 1819.05 will keep gold inside near term falling channel. That would also extend the correction from 2075.18 with another fall through 1764.31, before completion.
