FX.co ★ Analysis of Gold for August 31,.2021 - Potential for the drop due to lack of demand and the reakout of channel

Technical analysis:

Gold has been trading downside this morning as we expected. There is potential for the downside movement towards $1,807 and even $1,790.

Trading recommendation:

Watch for selling opportunities on the rallies with the downside targets at $1,807 and even $1,790..

There is the breakout of the rising channel in the background, which is good confirmation for further downside...

Stochastic is showing bear condition....