Technical analysis:
Gold has been trading sideways today at the price of $1.825. I still see potential for the downside movement. There is the breakout of the rising channel in the background.
Trading recommendation:
Due to the breakout of the rising channel in the background, I see potential for the further downside movement.
Watch for potential selling opportunities on the rallies.
Downside objectives are set at the price of $1.814 and $1.803.
MACD oscillator is showing downside momentum, which is good sign for further downside movement.
Resistance is set at the price of $1.843
