Technical analysis:
Gold has been trading downside as I expected and I see potetnial for the further drop towards next downside reference.
Due to the strong downside cycle and no signs for the reversal, I see potential for the further drop towards lower reference.
Downside objective is set at the price of $1.808
RSI oscillator is showing downside trend and no signs for the reversal, which is good sign for the further drop.
Key resistance is set at the price of $1.883
