Technical analysis:
Gold has been trading downside as I expected and the price is heading towards main downside objective at $1.860. I still see potential for the further drop.
Due to the breakout of the tight triangle and re-break few days ago, I see potential for the further downside momentum towards lower reference.
Downside objective is set at the price of $1.860
MACD oscillator is showing strong downside momentum, which is good confirmation for the further drop.
Key resistance is set at the price of $1.970
