Technical analysis:
Gold has been trading sideways at the price of $1,808 but I see potential for the rally towards $1,816.
Trading recommendation:
Due to the oversold condition and falling wedge pattern in the background, watch for buying opportunities with the upside targets at $1,816 and $1830.
Stochastic is showing bullish divergence in the background, which is good sing for the further rally...
Key support is set at tht price of $1,805
