Technical analysis:
Gold has been trading downside in last few hours and I see potential for bigger drop due to breakout of rising channel.
Trading recommendation:
Due to overbought condition and breakout of the rising channel, I see potential for drop.
Watch for selling opportunities on intraday rally with the downside objective at the price of $1,795
Stochastic oscillator is showing overbought condition and potential for the downside movement.
Key resistance is set at the price $1,815
