Technical analysis:
Gold has been trading downside as I expected and the price has reached my first downside objective. There is chance for the test of the next downside objective.
Trading recommendation:
Due to the downside trend condition and strong downside momentum, I see potential for the further downside movement.
Next downside objective is set at $1.820
MACD oscillator is showing fresh downside reading, which is good sign that sellers are in control.
Key resistance zone is set at $1.845
