Technical analysis:
Gold has been trading upside today but I see that resistance at the price of $1.978 is on the test. There is potential for the downside rotation.
Trading recommendation:
Due to the test of resistance and no fresh breakout of resistance, I see potential for the downside rotation.
Watch for selling opportunities if the price breaks the level of $1.964.
Downside objective is set at the price of $1.941.
Stochastic oscillator is showing fresh bear cross and overbought condition, which is sign for the downside rotation.
Resistance is set at $1.964
