Technical analysis:
Gold has been trading downside as I expected. I see potential for further drop towards the next downside reference.
Trading recommendation:
Due to the strong downside trend and rejection of the supply trend-line in the background, I see potetnial for the fuhrer drop.
Watch for potential selling opportunities on the intraday rallies with the next downside target at $1.680.
Stochastic oscillator is showing fresh bear cross, which is good confirmation for the further downside movement.
Key resistance is set at the price of $1.722
