Technical analysis:
Gold has been trading downside this morning and I found breakout fo the multi hour range to the downside, which is sign for the further drop.
Trading recommendation:
Due to the breakout fo the mini trading range and climax upside day from yesterday, I see potential for the downside rotation towards lower references.
Watch for the potential selling opportunities on the intraday rallies with the downside objective at the price of $1.653.
Stochastic oscillator is showing downside momentum, which is strong sign that sellers are in control.
Key resistance is set at the price of $1.681
