Gold is facing strong resistance and it is declining.
The support rests at 1853.48 with resistance at 1871.66 which the weekly pivot point at 1837.00 is located above the lines. The EMA of 10 is moving with bullish bias in the descendant channel and it is below EMA of 100 and 200. The Stochastic is showing downward momentum, the RSI is rising above level 50 and the MACD indicator is in neutral territory. The ADX is not showing any clear signals. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen is showing an upward trend and the Kijun-sen is showing a horizontal trend.
The resistance level breakout will pave the way for 1890; otherwise sellers can expect some consolidation around the pivot point.

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