Gold under the bearish pressure after it broke the support area lying between the pivotal support level 1780.00 (which has been steadily reversing the price from the start of August) and the 38.2% Fibonacci correction of the earlier upward ABC correction 2 from the start of last month. Given the strongly bearish sentiment seen across the previous metals markets today, Gold can be expected to fall further toward the next pivotal support level 1728.00 (target price for the completion of the active impulse wave (iii)).
