Technical analysis:
Gold has been trading downside as I expected. I see potential for further drop due to strong imbalanced regime and strong downside momentum.
Trading recommendation:
Due to strong downside momentum and imbalanced market regime today, I see further downside continuation.
My advice is to watch for selling opportunities on the rallies with the downside objectives at $1,762 and $1,754
Additionally, there is the breakout of the key pivot trend line in the background.
Key support resistance level is set at $1,792
