Technical analysis:
Gold has been trading downwards as I expected yesterday. The rejection of the resistance Warning line 1 was the key for the most recent drop.
I found the breakout of the support at $1.624and my advice is to watch for selling opportunities and potential downside movement towards the $1.612 (Pitchfork median line) and $1.595 (Pitchfork Lower Parallel line).
MACD oscillator is showing increasing downside momentum, which adds confirmation for further downside.
Resistance is not previous swing low at $1.632.
Support levels and downward targets are set at the price of $1.612 and $1.595
