Gold prices have been developing within a descending triangle in the 4-hour chart, after the rally towards the new all-time high of 2,195 on March 8. The price is posting a bearish correction with the technical oscillators indicating weak momentum. The MACD is moving horizontally beneath the zero level, while the RSI is pointing down below the 50 level. If resistance at 2,163 stands firm though, the precious metal could plummet again towards the 23.6% Fibonacci retracement level of the up leg from 1,984 to 2,195 at 2,145. The 2,123 support might tackle selling pressures, ahead of the 38.2% Fibonacci of 2,114. Then, ... (full story)