Technical analysis:
Gold has been trading downside in that past 24 hours and I see potential for further drop towards the important reference point at $1,784.
Trading recommendation:
Due to strong downside momentum and the breakout of pivot support at the price of $1,797,50, I see potential for further drop.
Watch for selling opportunities on the rallies with the the downside objectives at the price of $1,789 and $1,784.
In case of the bigger drop downside references are set at $1,762 and $1,754
Resistance level is set at the price of $1,801
