Analysis of Gold for July 12,.2021 - Watch for the downside breakout and potential drop towards $1.755

Technical analysis:

Gold has been trading sideways at the price of $1.800 but I see potential for the downside breakout.

Trading recommendation:

Watch for potential selling opportunities if the price breaks the level of $1.792.

Downside target will be set at the price of $1.755.

Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside rotation.

Key resistance is set at the price of 1.812.