Technical analysis:
Gold has been trading sideways at the price of $1.856 in the past few days. I see potential for the downside rotation due to rejection of the resistance in the backgorund.
Trading recommendation:
Due to the rejection of the resistance in the background and the no bigger buying power, I see potential for the downside movement.
Watch for potential selling opportunities on the rallies with the next downside objective at $1.827.
Stochastic is showing fresh bear cross from the overbought area, which is good confirmation for the further downside movement.
Resistance is set at the price of $1.878
