Technical analysis:
Gold has been trading downsides I expected but I still see further downside movement. There is the breakout of the bear flag pattern in the background..
Trading recommendation:
Due to the breakout of the bear flag pattern in the background and the impulsive downside swing in the background, I see potential for further downside movement.
Watch for potential selling opportunities on the intraday rallies with the downside objectives at $1.841 and $1.830.
MACD is showing downside reading and potential for the new fresh downside reading, which is sign that sellers are in control.
Key resistance is set at the price of $1.870