Technical analysis:
Gold has been trading downside as I expected and the price has reached first objective at $1.913. Anyway, sellers are in control and I see potential for the further downside movement.
Due to the rejection of the resistance in the background and breakout of the support, I see potential for the further drop towards next downside reference.
Downside objective is set at the price of $1.900
RSI oscillator is showing downside trend condition, which is good sign for the further downside movement.
Intraday resistance is set at the price of $1.913
