Technical analysis:
Gold has been trading sideways at the price of $1.855 but there is still chance for the downside movement towards lower references.
Trading recommendation:
Due to the breakout of the upside channel in the background, I see potential for the downside movement.
Watch for potential selling opportunities on the rallies. Confirmation can happen in case of the breakout of $1.841.
Downside objective is set at $1.810 and $1.790
MACD oscillator is showing decrease in the upside momentum, which is good sign for potential downside movement.
Key resistance is set at the price of $1.868
