Technical analysis:
Gold has been trading sideways at the price of $1.711, I see potential for the breakout of the symmetrical triangle pattern.
Trading recommendation:
Due to the confluence and the symmetrical triangle in the background, I see potential for the breakout play.
Watch for the potential breakout of the rising trend-line to confirm further downside movement.
Downside objectives are set at the price of $1.697 and $1.681.
Stochastic is showing overbought condition and potential for the downside rotation.
Key resistance is set at the price of $1.721
