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Technical analysis:
Gold has been trading upside this morning on Europe session but I see potential for the downside continuation of the trend.
Trading recommendation:
Due to the strong downside trend in the background and overbought condition this morning, I see further downside movement.
Watch for potential selling opportunities on the rallies with the downside objective at the price of $1.712.
Stochastic oscillator is showing fresh bear cross and overbought condition, which is good sign for further downside movement.
Resistance is set at the price of $1.730
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