Gold - Daily

Gold Daily chart remains bearish and is currently forming the CD leg of an AB=CD pattern with the measured move target at 1631.

On the downside initial support lies at the 169 Ema at 1685, then zone 2 at 1661.80/1672.50. A break of which would open up the measured move target area at 1621/1631 which is a combination of AB=CD, Fib confluence 61.8/1.618 and the daily uptrend support line.

At this point only a break above the recent high at 1755 would invalidate. First resistance lies with the  55 Ema currently at 1721.