Technical analysis:
Gold has been trading downside as I expected. The price reached my first downside objective at the price of $1.826 and is heading towards the second target.
Trading recommendation:
Due to the strong supply and rejection of the resistance in the background, I see potential for the further downside movement.
Watch for selling opportunities on the intraday rallies with the next downside objective at the price of $1.790.
MACD oscillator is showing fresh momentum downside, which is good sign for further downside movement.
Key resistance is set at the price of $1.880
