Technical analysis:
Gold has been trading downside today and I found rejection of the key resistance cluster at the price of $1.943, which is good sign for the further downside movement.
Due to the rejection of the resistance cluster and the oversold condition on oscillator, I see potential for the further drop towards lower references.
Downside objectives are set at the price of $1.926 and $1.915
Stochastic oscillator is showing fresh downside cross and overbought condition , which is another good sign for the further downside movement.
Key resistance is set at the price of $1.943
