Analysis of Gold for August 14, 2018
Recently, the Gold has been trading sideways at the price of $1,194.75. The price is trading below the pivot level ($1.199.27), which is sign that sellers are in control. I also found a potential bearish flag in creation, which is sign that downward trend may resume. My advice is to watch for potential selling opportunities if you see a valid breakout of the lower diagonal. The downward targets are set at the price of $1,185.20 and at the price of $1,177.25.
Trading recommendations for today: watch for potential selling opportunities.