Gold Trades with bearish bias

Gold broke 23.6% fibonacci level 1860 and closed yesterday at 1850 indicating short term Bearish Reversal Top which can start short term correction to 50 EMA 1846 on H4 chart and extend to resistance turned support 1832

On the flip side, if Intraday recovery supported by 1850 and sustained above 23.6%fibonacci level 1860, Gold can retest 1873 and yesterday's high 1877 to reach next resistance 1883, required to achieve the much awaited Targets 1900/1916

H4 chart Stochastic signal line reads 32 over slow stochastic line 18 which is supportive for intraday recovery.