Gold downside mildly overextended

Downside movement of Gold remain strong last week as it printed four days of losses. Momentum is mildly overextended and if this momentum persist, price is likely to reach the next level of support at 1789 can will likely be overextended by then, where high risk long opportunity can be entered.

If Gold managed to push above the 1853 region, a short term shift towards the upside can be assumed.