Gold is approaching the intermediate resistance of its medium term bullish channel at 1438 suggesting a decline in the short term. However a break of these levels would reach the upper limit of its channel in 1449.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1438 with a 1st objective of 1448, then 1455. A break in 1436 would invalidate this scenario.