Technical analysis:
Gold has been trading downside today and I see the breakout of the rising channel, which is sign that sellers are in control.
Trading recommendation:
Due to the breakout of the rising channel in the background, I see potential for further downside movement.
Watch for potential selling opportunities with the downside objectives at the price of $1.783 and $1.770.
Stochastic oscillator is showing overbought condition and bear cross, which is sign that sellers are taking control.
Key resistance is set at the price of $1.805
