Gold retraced as expected to the $1,721 at the lower bound of the short-term ascending channel and has reclaimed both the $1,725 resistance line and lower bound of the long-term ascending channel.
Next, it is expected to rebound with the completion of the triangle to $1,765 at the upper bound of the short-term ascending channel. There could be resistance at the $1,736 resistance line and $1,754 at the upper bound of the long-term ascending channel.