Gold tests key support level at $1750/ounce

Buyers appear to be losing interest and spot gold is headed for a test of the key $1750 support level. Failure would complete a double top, warning of a correction to $1500/$1600* (depending on whether you take the base as $1700 or $1750). Respect would indicate another test of $1900.

* Target calculation: 1900 + (1900 - 1750 ) = 2050 and 1750 - (1900 - 1750 ) = 1600