Technical analysis:
Gold has been trading sideways at the price of $1.939. Key resistance is set at the price of $1.950-$1.960. Watch for potential rejection of the key resistance.
Trading recommendation:
Watch for potential selling opportunities due to broken upside trend-line and downside cycle in progress.
Downside objectives are set at the price of $1.900 and $1.882
Stochastic oscillator is showing overbought condition and fresh bear cross, which is sign for the further downside movement.
Key resistance is set at the price of $1.957
