Gold Corrects lower

Gold finally corrects lower as overbought indicator start to unwind.

Resistance zone bounded by 689.00 high and 673.00 former low will cap for pullback to 656.40 Feb 21 low.

Beneath there extends corrective dips towards 648.00 ahead of 641.10, which should hold for bull leg resumption off 602.20 Jan 5 low.

A swift break of 685.00, however, bodes well for upswing to 692.27, projection target and 694.60 high.

Silver pulls back from Tuesday's high at 14.710 will defer the longer term bull trend for the time being.

Corrective dips may be extended towards 13.690, Feb 20 low which is near former trend-line resistance off 15.240 May 2006 critical top.

Expect consolidation there before bull leg resumes.

Deeper fall under 13.500 congestion, however, exposes trend-line support near 13.00.

Return above 14.500 resumes strength.