Gold- Latest Technical Forecast: Where Next..? $1931 or $1991

As Gold broke $1962 important 23.6% Fibonacci Level and dropped to $1944 before a sluggish rebound to support turned resistance $1960, traders await reaction to this zone.

Though structure becomes weak and momentum turns bearish, any consolidation above $1962 will put Gold back into Bullish path resuming uptrend which has initial challenge at $1968-$1972 followed by $1986
Failure to make sustainable break above $1962 and $1968 will prompt a quick break below $1952 and retest of $1944 swing low which is acceleration point to further downside to test next Fibonacci Level of 38.2% at $1931 and extend to $1926

Upcoming US Consumer Confidence Data will impact Gold's direction significantly.

Note: This projection is based on price action and does not claim to be a Trading Recommendation.