Technical analysis:
Gold has been trading upside yesterday and the market reached our main upside target at $1.666 and then got big rejection towards lower references. Due to big rejection in the background there is potential for further drop on the Gold...
Trading recommendation:
Watch for the potential selling opportunities on the intraday rallies with the downside objective at the price of $1.616.
MACD oscillator is showing fresh downside momentum, which is strong sign that sellers are in control.
Short-term resistance is set at the price of $1.638