The precious metal is trading somewhat softer after rising above the 1817 price level. This coincides with the expected correction in prices.
The Stochastics oscillator is flat at the moment. However, further gains might see gold prices rising to test the 1850 level.
Establishing resistance near this level could confirm the larger correction to the uptrend.
This could mean that gold prices could once again fall with the 1818 level playing a key role.
A close below this level could signal further declines down to the 1800 level and lower.
