Technical analysis:
Gold has been trading sideways at the price of $1,761. I see potential for the downside movement towards $1,746
Trading recommendation:
Watch for potential selling due to extreme upside condition and potential for the downside continuation.
Downside target is set at the price of $1,746
Stochastic is showing fresh bear cross and bearish divergence, which is another sign and confirmation for the downside rotation.
Resistance is set at $1,767
