Technical analysis:
Gold has been trading upside this morning but I see potential triangle in creation, which is sign that downside continuation can be in the play.
Trading recommendation:
Due to the strong downside cycle in the background and potential for triangle pattern, I see further downside continuation.
Watch for potential selling opportunities in case of the downside breakout of the triangle.
Downside objectives are set at $1.716 and $1.684.
MACD oscillator is showing decrease in the downside power but reading is still negative.
Resistance is set at the price of $1.745
