Technical analysis:
Gold has been trading downside as I expected and the market has reached the first downside objective at $1.819. I see potential for the further downside movement.
Due to the strong downside movement and the downside trend, I see potential for the further drop towards lower reference.
Next downside structural objective is set at $1.810
Stochastic oscillator is showing fresh bear cross, which is another good sign for the further downside movement.
Intraday resistance is set at $1.827
