This is the sideways trading we have pointed out to earlier! The metal is trading between the 61.8% correction at 835.40 as seen in the picture above and the key resistance for the medium term descending channel near 874.45 which is slipping further day after day. The downside trend will gain strength if gold breached the support level at 835.40 and trades below it on the four hour charts where our target will be 805.40. However currently, gold is still in a sideways channel and we expect to day for high volatility with slight upside corrections. Our expectations remain valid unless the metal builds a solid base above 890.55

The trading range for today is among the key support at 820.90 and the key resistance at 890.55

The general trend is to the downside as far as 934.00 remains intact with targets at 649.20 and 615.60

Resistance851.00 857.20 858.20 866.95 874.45