Gold could very possibly be setting up a double bottom here, but with the medium-term trend still down it would be best to wait for confirmation from a break above at least 1780. For now, there is some support @ 1745 followed by more support @ 1705 should we see one more leg down. In terms of a strong bullish recovery back above 1780 there will be resistance from the key 1800 level where we have both the Daily 100 and 200 SMA's converging on diagonal resistance.