Gold’s rebound from 1810.07 lost momentum at 1874.88, after hitting 55 day EMA. But subsequent retreat is kept above 1832.40 minor support holds. The corrective rise could still extend higher. Above 1874.88 will target 61.8% retracement of 1959.16 to 1810.07 at 1902.20. But upside should be limited there. .
Overall, we’re seeing fall from 1959.16 as the third leg of the corrective pattern from 2075.18. Hence, another decline is expected after current recovery from 1810.07 completes. Break of 1832.40 will likely send gold through 1810.07 to 1764.31 support and below.
