Technical analysis:
Gold has been trading downside as expected but there is still space for potential test of lower references. Selling opportunities still preferable.
Trading recommendation:
Due to the strong downside cycle and the breakout of the upside channel, I see potential for the downside continuation.
Watch for potential selling opportunities with the downside objectives at the price of $1.836 and $1.811.
MACD oscillator is showing upside reading but decreasing in the upside momentum, which is sign for upside exhaustion.
Key resistance is set at the price of $1.870
