Gold weakens mildly today but quickly recovered. Overall it’s staying in very tight range below 1796.64 minor resistance, and 1800 handle. Fall from 1916.38 is still in favor to continue. Such decline is seen as another falling leg of the whole corrective pattern from 2074.84. Break of 1760.71 temporary low will target 1676.65 support. We’d expect strong support from there to bring rebound, at least on first attempt. On the upside, break of 1796.63 will bring stronger rebound back to 55 day EMA (now at 1822.94).
The next move in Gold would be use to double confirm the next direction in Dollar elsewhere.
