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Gold has been trading sideways at the price of $1.840. I still see potential for the downside continuation.
Due to the strong downside momentum in the background and the downside cycle, I see potential for the further drop towards lower references.
Watch for the potential selling opportunities on the rallies with the downside objectives at $1.793 and $1.738
Stochastic is showing fresh downside cross, which is sign that there is potential for the downside movement.
Key resistance zone is set at the price of $1.850
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