Gold has bounced off the lower limit of its short term downtrend channel at 1361 and is approaching its intermediate resistance to 1377. A breakot of this area would 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 in 1377 with a 1st objective of 1388, then 1397. A breakthrough of 1375 would invalidate this scenario.