Gold has performed a major downside price move, following a confirmed technical breakout below the psychological $1,790 level. A falling price channel on the daily time frame is currently highlighting that the price of gold could fall towards the bottom of the channel, around the $1,670 level. The Stochastic indicator on the daily time frame is also a sell issuing a powerful sell signal.
XAUUSD is only bullish while trading above the $1,815 level, key resistance is found at the $1,820 and the $1,1820 levels.
If XAUUSD trades below the $1,815 level, sellers may test the $1,775 and $1,730 support levels.
