Gold has bounced off the lower limit of its medium-term bullish channel at 1379 and now is testing its intermediate resistance at 1395. A breakout of this area will free a significant potential.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance level at 1395 with a 1st objective of 1410, then 1418. A breakthrough of 1393 would invalidate this scenario.