Technical analysis:
Gold has major test and rejected after the CPI release. Strong downside momentum and potential for another drop on Gold.
Trading recommendation:
My advice is to watch for selling opportunities due to strong rejection from the pinbar zone in the background.
Downside targets are set at the price of $1,747 and $1,722
Stochastic oscillator is showing bear cross in progress, which is another sign for the downside movement.
Key resistance is set at $1,780
