• Gold drop $106/oz from $2956 record high almost reaching $2850 on Friday

• Target for minor correction of rise form Dec's low is $2841/oz

• Risk that sell-off becomes stretched toward $2823/oz base daily Bollingers

• There has been a clear reluctance to buy USD during a risk averse period

• Gold preferred but less liquid asset to hold resulting in rapid rise

• Pairing of bullish bets during reverse will lessen restraint of uptrend

• Plunge of riskier assets is cause for investors to seek safety

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Gold

(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)