Technical analysis:
Gold has been trading downside and there is the breakout of the contraction, which is good sign for further drop.
Trading recommendation:
Due to the breakout of the consolidation and the downside movement I see potential for further drop towards downside reference points.
Watch for selling opportunities on the rallies with the downside targets at $1,805, $1,801 and $1,790.
Key resistance is set at the price of $1,822
