Technical analysis:
Gold has been trading downside as I expected. I found that downside momentum is still strong and there is potential for bigger drop.
Trading recommendation:
Due to the strong downside momentum and potential test of major support cluster at $1.680, I see further downside movement.
Watch for the selling opportunities with the downside objective at the price of $1.575.
Stochastic oscillator is showing fresh downside cross, which is good sign that sellers are in control.
Key resistance is set at the price of $1.729
