Technical analysis:
Gold has been trading sideways at the price of $1.837. There is potential for the downside rotation due to extreme upside condition.
Trading recommendation:
Watch for potential selling opportunities on the rallies with the downside targets at $1.815 at the price of $1.801.
There is bear flag pattern based on the last drop, which is good sign for downside movement.
Key resistance is set at $1.843
The material has been provided by InstaForex Company - www.instaforex.com