Gold has been trading sideways at the price of $1.454 but I see potential for further downside due to active downward channel. My advice is to watch for selling opportunities with the downward targets at $1.436 (Fibonacci expansion 61.8%) and $1.408 (Fibonacci expansion 100%).
Stochastic oscillator is showing bear cross in the background and no signs of any bullish reversal yet, which is sign that sellers are in control.
Resistance levels are seen at the price of $1.460 and at $1.4176. Support levels are seen at $1.446 and $1.436.
