Technical analysis:
Gold has been trading sideways today at the price of $1.955. I see potential for the intraday downside cycle.
Trading recommendation:
Due to V shape reversal in the background and potential completion of the ABC upside correction, I see potential for the downside movement.
Watch for potential selling opportunities on the rallies with the downside objectives at $1.942 and $1.931.
Stochastic is showing fresh bear cross and overbought condition, which is sign that downside rotation is possible.
Resistance is set at $1.968
