Technical analysis:
Gold has been trading downside today as I expected and there is still potetnial for bigger drop on Gold and continuation od the downside trend in the background.
Trading recommendation:
Due to the strong downside cycle and rejection of the upper line of the channel, I see potential for the downside movement.
Watch for potential selling opportunities on the intraday rallies with the downside objectives at $1.836 and $1.810.
Stochastic oscillator is showing bear reading, which is good sign for further downside movement.
Key resistance is set at the price of $1.870
