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Gold breaks 1784 support, heading to 1764 and below

Gold’s break of 1784.67 should now indicate resumption of fall from 1959.16. Bias is back on the downside for 1764.31 and below. Price actions from 2075.18 are seen as corrective whole up trend from 1160.17 to 2075.18. Such correction would have a take on 38.2% retracement of 1160.17 to 2075.18 at 1725.64 before completion.

On the upside, break of 1810.38 minor resistance will delay the bearish case. But risk will stay on the downside as long as 1855.17 resistance holds.

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