Technical analysis:
Gold has been trading downside today with strong momentum and I see potential further drop.
Trading recommendation:
Due to the breakout of the rising trend-line in the background and potential for the breakout of the mini channel, I see potential for further drop.
Watch for potential selling opportunities on the intraday rallies with the downside objective at $1.764.
Stochastic is showing oversold condition but with no evidence for the reversal.
Key resistance is set at the price of $1.805
