Technical analysis:
Gold has been trading downside after Friday's buying climax and I see that there is more downside movement yet to come.
Trading recommendation:
Watch for selling opportunities on the rallies with the downside targets at $1,746 and $1,724.
There is absorption of the buying climax in the background and potential for the further downside.
Stochastic is showing continuation and further downside movement.
Resistance is set at $1,780
