Technical analysis:
Gold has been trading sideways at the price of $1.928. There is potential for the downside breakout of the contraction.
Trading recommendation:
Due to the mid-term downside cycle in the play, I see potential for the downside continuation.
Watch for selling opportunities on the potential breakout of support at $1.924.
Downside objectives are set at the price of $1.916 and $1.904.
Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside movement.
Key resistance is set at $1.935
