Technical analysis:
Gold has been trading upside this morning and I see potential for further rally due to the breakout of well defined downside channel.
Trading recommendation:
Due to the breakout of the overnight downside channel, I see potential for the rally today towards upper references.
Watch for potential buying opportunities on the intraday dips with the upside objectives at $1.850 and $1.853. Extreme target can be set at $1.858.
Stochastic is showing upside momentum and the divergence in the background.
Key support is set at the price of $1.839
