Technical analysis:
Gold has been trading downside as I expected and the price has reached first downside objective at $1.935
Due to the strong downside momentum and no major sign of the strength, I see potential for the further downside movement towards lower reference. The good confirmation will be if the market can hold below $1.935.
Downside objective is set at the price of $1.915
Stochastic oscillator is showing fresh downside cross, which is another good sign for the further downside movement.
Key resistance is set at the price of $1.985
