Gold price is bouncing off the $1,835-42 area where we find the lower cloud boundary and the 61.8% Fibonacci retracement of the entire upward move from $1,763 to $1,958. Gold bulls are so far supporting Gold. Bears need to show more signs of strength.
Blue rectangle - resistance
Gold price is reversing the downward move around the key Fibonacci support level at $1,835-42 area. This is major support. A daily close below $1,835 will open the way for a new lower low towards $1,800-$1,790.