Technical analysis:
Gold has been trading upside this morning and I found breakout of the downside channel, which is good sign for the further upside movement.
Trading recommendation:
Due to the breakout of the downside channel and the strong upside trend in the background, I see potential for further upside movement towards next upside reference.
Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $1.928
Stochastic oscillator is showing oversold condition and fresh flip up, which is good sign for further bullish movement.
Key support is set at the price of $1.896
