Gold traded yesterday in a narrow range limited below 1176.75 and below the previous bottom 1182.45. Trading below the referred to level is negative and Linear Regression Indicators are trading to the downisde accompanied by MACD signal lines trading below line zero. The possibility of extending the downside move is available today and will depend on the metal's ability to break 1155.75 at 113% correction.
A break below 1155.75 triggers another bearish wave that target 1127.00 levels. These possible negative catalysts depends on stabilizing intraday below 1182.45 today.