Gold Tests 1740 Region Before Pulling Back Sharply

Technical Outlook and Chart Setups:

As it was depicted above, please note the following facts:

1. The Fibonacci extensions on downside are met at 1735.00 level.

2. Stops placed near 1740 levels have triggered. However, they are looking into the pullback. Bullish momentum still exists. A push above 1760.00 would further instil confidence.

3. 1720.00 support is still holding good.

Trading Recommendations:

Go long again, stop at 1715.00, and target open.

Good Luck!