GOLD DAILY XAUUSD - IN A WIDENED DESCENDING BEVEL

Gold is now consolidating in a widened descending bevel coming from the previous bullish rally. We are now close to a key fibo 50% around 1760. It could be a good idea to play the rebound on this key level and the continuation of the long terme bullish trend. There is also lot of polarity support on this area. Otherwise more downside could lead the gold to another key polarity support and also a Fibo @ 61.8% around 1700. Target for this scenario is 1885-1900 area.