Technical analysis:
Gold has been trading sideways today at the price of $1,772. I see potential for the downside continuation.
Trading recommendation:
Due to the breakout of the rising trend line and consolidation in the background, I see potential for the bigger drop in next period.
Watch for selling opportunities on the rallies with the downside objective at $1,725
Stochastic is showing oversold condition but with no evidence for thee bigger reversal.
Resistance level is set at the price of $1,808
