Technical analysis:
Gold has been trading sideways at the price of $1.789. I see potential for the downside movement.
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 intraday rallies with the downside objectives at $1.783 and $1.768.
Stochastic oscillator is showing fresh bear cross, which is sign for potential further downside movement.
Key resistance is set at the price of $1.800
