Gold has been trading downside as I expected and the price is close to my first objective at $1.850. I see that sellers are in control and there is potential for the downside continuation.
Due to the breakout of the bear flag in the background, I see potential for the downside continuation of the short-term trend.
Watch for potential selling opportunities on the intraday rallies with the downside objectives at $1.822 and $1.790.
MACD oscillator is showing strong downside momentum, which is another confirmation that sellers are in control.
Stochastic is showing extreme reading but with no evidence for the reversal.
Key resistance is set at the price of $1.917