Technical analysis:
Gold has been trading downside during the Tokyo session and the price has been reached my main downside objective at $1.690. Anyway, Gold reacted strongly from the support and now its on the way for the upside objective.
Trading recommendation:
Due to the strong rejection of the key support at $1.690, I see further upside movement towards next upside reference point.
Watch for the potential buying opportunities on the intraday dips with the upside objectives at $1.709 and $1.717.
Stochastic oscillator did show the bull divergence this morning, which is one of the reasons of the early morning rally.
Key support is set at the price of $1.690
