Technical analysis:
Gold has been trading downside this morning and I saw rejection of the supply trend-line, which is good sign for further downside movement.
Trading recommendation:
Due to the rejection of the supply trend-line and strong downside movement in the background, I see potential for further downside movement.
Watch for the selling opportunities on the intraday rallies with the downside objective at the price of $1.644.
Stochastic oscillator is showing fresh bear cross, which is good sign that sellers are in control.
Key resistance is set at the price of $1.678
