Technical analysis:
Gold has been trading sideways at the price of $1.840. I still see potential for the downside continuation.
Trading recommendation:
Due to the strong downside momentum in the background and the downside cycle, I see potential for the further drop towards lower references.
Watch for the potential selling opportunities on the rallies with the downside objectives at $1.793 and $1.738
Stochastic is showing fresh downside cross, which is sign that there is potential for the downside movement.
Key resistance zone is set at the price of $1.850
