Since the beginning of January Gold has been fluctuating.
The support rests at 1840.39 with resistance at 1870.52 which the weekly pivot point at 1853.87 is located in between the lines. The EMA of 10 is moving horizontally in the horizontal channel and it is below EMA of 100 and 200. The Stochastic is showing downward momentum, the RSI is falling below level 50 and the MACD indicator is in neutral territory. The ADX is showing sell signal. The price is below the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Short positions are recommended towards 1835.