Gold - 4 Hourly

Gold currently trading at $1779 an ounce, could a reversal trend after Monday's heavy downfall be on the move?

From a technical outlook, Gold is currently trading at $1779 an ounce. A small base of support seems to have been established after yesterday's heavy downfall. Support sits at $1774 then at $1772 (correspondent with the upper green trendline) then at $1765 (correspondent with the lower green trendline). A break below these points could see the price of Gold slip further towards $1745/$1750. Towards the upside, resistance sits at $1783. A break above this resistance point may see a reversal trend and head back up towards the $1800 an ounce price range. Looking at the indicators, MACD is currently negative but starting to level out and RSI is neutral as it reads 50.