Technical analysis:
Gold has been trading upside and I found the breakout of the downside channel in the background, which is sign that buyers are in control and that we might see further growth.
Trading recommendation:
Due to the breakout of the rising downside channel in the background, I see potential for the further growth.
Watch for the potential buying opportunities on the intraday dips with the upside objectives at $1.665 and $1.637.
Stochastic oscillator is showing fresh bull divergences, which is good sign for further rally.
Key support is set at the price of $1.631
