Technical analysis:
The gold is trading into upper Bollinger band and into the extreme reading on the oscillator. There is potential for the downside rotation.
Trading recommendation:
Due to extreme condition on the Gold and overbought market, I see potential for the downside rotation.
Watch for selling opportunities in case of the bearish divergence on the momentum with the downside objectives at $1,781 and $1,764
Stochastic is showing extreme reading and potential for the downside rotation.
Key resistance is set at $1,805
