The precious metal is declining, trading at 1154.62 dollars per ounce. The pair is leaving the upwards lateral channel built on October 28th and consolidating with the 200-days MA.

The one hour candles chart shows the pair just broke the lower band of Bollinger, hinting a possible correction to the middle band (1175.20), while the CCI shows signs of selling, right now.

The 14 period RSI is on oversold ground.

If the trends doesn't change, traders will focus on the support at 1150.40, while upwards the 61.80% fibo, marked between 1137.30 and 1193.60, could act as a resistance.

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