Technical analysis:
Gold has been trading downside as I expected and the price has reached first downside objective at $2.007. I still see potential for further downside movement.
Due to the breakout of the mini upside channel in the background and weak reaction fo the support, I see potential for the further drop towards lower reference.
Downside objective is set a the price of $1.990
Key intraday resistance is set at the price of $2.030
