Technical analysis:
Gold has been trading sideways at the price of $1.840 and there is chance for the the downside rotation before any further upside movement.
Trading recommendation:
Watch for potential selling opportunities on the rallies with the downside target at $1.826.
Stochastic is showing bearish divergence in the background, which is another sign of the weakness and extreme reading from buyers..
.Main resistance is set at $1.845
The material has been provided by InstaForex Company - www.instaforex.com