Gold is currently testing the upper limit of its medium term bearish channel at 1378 and appears to initiate a withdrawal. However a break in this area would release significant potential and initiate a new trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1378 with a 1st objective of 1385, then 1393. A break of 1376 would invalidate this scenario.