Technical analysis:
Gold has been trading downside as I expected. The price reached first downside objective at $1.808 with strong momentum.
Due to the strong downside momentum in the background I see potential for the further downside continuation after the correction.
Next downside objective is set at the price of $1.770
Stochastic and MACD oscillators-are showing downside reading with no evidence for the change in trend behavior.
Key resistance is set at the price of $1.855
