{video} Gold retraces 50% of the prior advance and finds support for the day at 2,031. A successful test of support at the 20-Day MA also completed today at 2,034. Today is the second test of support at the 20-Day line, while the first was on December 15 (C). It remains to be seen whether support will hold and turn prices higher. There are no signs of that yet. Therefore, the expectation in the near-term is for a deeper retracement, but maybe not by much. {chart} There is likely support around the lower uptrend line, whose price will vary depending on when is reached, and the 61.8% Fibonacci retracement at 2,017. A ... (full story)