Technical analysis:
Gold has been trading upwards yesterday but the price has reached the key pivot level at $1.850 and I see potential for the downside movement.
Trading recommendation:
Due to the strong downside cycle on the daily time-frame in the background and potential for ABC upside correction completion, I see further downside movement.
Watch for potential selling opportunities on the intraday rallies with the downside objectives at $1.810 and $1.788.
MACD oscillator is showing divergence and potential for the downside rotation.
