Technical analysis:
Gold has been trading upside in the background but there is potential for the downside rotation due to the extreme condition and resistance area.
Trading recommendation:
Due to the strong extreme condition in last 5 days and potential for the resistance at the price of $1.705-$1.713, I see potential for the downside rotation.
Watch for the potential selling opportunities with the downside objectives at $1.695 and $1.677.
MACD oscillator is showing overbought condition and fresh bear cross, which is sign that buyers went extreme.
Key resistance zone is set at $1.705-$1.713
