Gold chart analysis

The price of gold is retreating from yesterday's high of $ 1,858. During this morning's Asian trading session, the price dropped to $ 1840, where it found support. Later, a recovery to $ 1,850 was seen, but it didn't last long, and the price started a new pullback. In the zone of around $ 1840, additional support can be provided by MA50 and MA200 moving averages. For the bullish option, we need a new positive consolidation and a return above $ 1850. After that, gold could climb to test the $ 1860 level. If she manages to take a break, the price will rise to this month's resistance zone at $ 1870. For the bearish option, we need continued negative consolidation and a pullback below $ 1840. A break below would lower us to a larger support zone at $ 1830. Potential lower targets are $ 1820, $ 1810 and $ 1800 levels.