Technical analysis:
Gold has been trading downside as I expected. The price reached first downside objective at $1819.
Trading recommendation:
Due to the rejection of the trendline in the background and breakout of the mini rising wedge, I see potential for further downside movement.
Watch for potential selling opportunities on the intraday rallies with the downside objective at $1.805.
Stochastic is showing oversold condition but with no signs for further reversal.
Key resistance is set at the price of $1.840
