Gold has reached 61.8% Fibonacci of CD leg at 1137.00 where it corrected slightly in the Asian session. We see contradiction between the bearish harmonic effects and the re-test of the previous broken resistance of the sideways structure.
Moving averages are negative and ADX too; therefore, we may see bearish actions.
However, RSI14 is currently touching oversold level and that may cause corrections, but as far as 1158.00 holds, we are bearish on gold.
Support: 1140.00 – 1137.00 – 1130.00
Resistance: 1150.00 – 1158.00 – 1165.00
Direction: Bearish, but we may witness corrective actions