Technical analysis:
Gold has been trading sideways at the price of $1.930. Anyway, I see potential for the downside continuation towards the level at $1.900.
Trading recommendation:
Due to the breakout of the upside channel in the background and re-test phase, I see potential for the further downside movement.
Watch for potential selling opportunities with the downside objectives at $1.900 and $1.885.
MACD is showing negative reading together with Stochastic oscillator, which is sign that sellers are in control.
Resistance is set at $1.937
