Technical analysis:
Gold has been trading downside as I expected. There is still chance for further drop towards next downside objectives....
Trading recommendation:
Due to the breakout of the rising trend-line and the mini channel, I see further downside movement.
Watch for potential selling opportunities on the rallies with the downside objectives at $1.760 and $1.740.
MACD oscillator is showing new fresh downside momentum,which is another sign for the further downside movement.
Key resistance is set at the price of $1.786
