Gold slips lower and it is somehow expected to approach and reach the $1,900 psychological level and the uptrend line. The price has printed a down channel, a drop below the near-term downside obstacles will recommend selling as the rate fails to stay within the uptrend.
It's premature to talk about a larger drop as the gold price is traded above the uptrend line. Passing above the minor red downtrend line, Gold announces further growth in the coming weeks.
GOLD Trading TipsSell below the $1,880 level, the first downside target stands around $1,800 at the downside line of the minor down channel.
Buy again from above the $2,000 level, Gold's run beyond this level suggests a larger upside movement, $2,100 remains an attractive target if this scenario takes shape.