Gold has been trading downside as I expected. The price reached first downside target at the price of $1.860 but with ptoetnial for further drop towards $1.812.
Still, watch for selling opportunities on the rallies with the next downside targets at the price of $1.842 and $1.812.
The main cause of the downside movement was the breakout of the well defined upside channel.
Stochastic is showing oversold condition but with no evidence of the reversal....
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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