Gold: Testing Support Area
Gold declined sharply yesterday. The short-term support area between 1737 and 1721 is intact thus far. A resistance for a bounce can be found at 1759 (intraday low and declining trendline).
The strong resistance area between 1791 and 1803, coupled with overbought conditions, favours a corrective phase.
Gold is in a secular uptrend with strong support at 1523.