Technical analysis:
Gold has been trading downside as I expected. The price has been reached downside objective at $1,920 and is heading towards next downside objective.
Trading recommendation:
Due to strong downside pressure and no sign for the reversal yet, I see further downside continuation.
Watch for selling opportunities on the rallies with the next downside objective at the price of $1.885 (cluster of lows).
MACD oscillator is showing negative reading which is sign that selling pressure is still heavy.
Resistance level is set at the price of $1.960
