Analysis of Gold for August 12,.2021 - Breakout of the tight consolidation and potential for downside movement

Technical analysis:

Gold has been trading sideways at the price of $1,749 but there is chance for the downside movement.

Trading recommendation:

Gold is still in the post climax mode but there is intraday clue that downside can be in the play due to breakout of the support at $$1,750.

Watch for selling opportunities with the targets at $1,737 and $1,719

Stochastic is showing downside reading with no evidence for the reversal...

Resistance is set at the price of $1,764