Gold rebounded to the upside, achieving the targets suggested before, but the bullishness stopped around the barrier of 1582.00, where the metal reverses to the downside now, affected by the negativity of Stochastic. But, in general, the intraday upside move might extend today, targeting 38.2% Fibonacci correction as shown above, as a breach of this level will support the metal to move towards 1599.00 and then 1616.30.
Recommendation : Based on the charts and explanations above, our opinion is buying gold with a breach of 1582.00 targeting 1599.00 and 1616.30 and stop loss with four-hour closing below 1570.00 might be appropriate