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Technical analysis:
Gold has been trading downside as expected and the price reached my main downside target at the price of $1.820. Anyway, I see potential for the further downside movement towards next key pivot.
Trading recommendation:
Due to the strong downside cycle and no bigger signs for the reversal, I see potential for the downside movement.
Watch for potential selling opportunities on rallies with the next downside objective set at $1.790.
MACD oscillator is showing strong downside momentum, which is sign that sellers are in control.
Resistance is set at the price of $1.830
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