Technical analysis:
Gold has been trading upside during last 2 days but I found the exhaustion pattern today.
Trading recommendation:
Due to exhaustion pattern and breakout of the contraction, watch for selling opportunities on the rallies with the downside target at $1,758.
There is the breakout for the rising trend line in the background.
Stochastic is showing fresh bear cross, which is good sign for further downside movement.
Resistance is set at $1,7383.
