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Technical analysis:
Gold has been trading upside this morning but I found that market is still in the downside channel mode with no evidence for the any
Due to the downside channel in place and the weak demand this morning, I see potential for the further downside movement after completion fof the upside correction.
Downside objective is set at the price of $1.911
Stochastic oscillator is showing upside reading, which is sign that Gold is still in the upside correction phase.
Key resistance is set at the price of $1.920
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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