Gold rallied to test descending trendline resistance at 1832 and consolidates around 38.2% Fibonacci level.
Traders need to monitor price action at this level as a sustained move below 1825 may cause prices to test 1822-1820
Failure to hold above 1820 which coincides with middle Bollinger Band on H4 time frame, may trigger correction to 50 EMA on H4 which sits at 1806 and descending chanel trendline at 1802
Though this 1806-1802 area may provide some supportive bounce back, further selling can bring Gold to long term pivot 1795
As the main trend is bullish, traders will rush in to open long positions at value area than chasing strength.
Gold can return to its bullish chanel with 1833-1835 cleared in a short spike heading to next 23.6% fibonacci level 1860
The critical and crucial condition is Gold clearing and sustaining above 1835
Note: In Bull rally, its advisable to buy the dips on value area than chasing strength.