Technical analysis:
Gold has been trading downside as I expected and the price is heading towards my downside objectives. There is breakout of the early morning upside trend-line, which is good sign for further downside movement.
Trading recommendation:
Due to the breakout of the triangle pattern in the background and strong upside cycle, I see potential for further rally.
Watch for the potential selling opportunities with the downside objectives at the price of $1.699 and $1.673
MACD oscillator is showing downside reading, which is good sign that seller sare in control.
Key resistance is set at the price of $1.728
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