Gold is currently testing the upper limit of its medium-term bullish channel at 1538 and seems to initiate a decline. However a break of these levels would free up significant potential and establish a bullish trend more violent.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1538 with a 1st objective of 1550, then 1553. A break in 1536 would invalidate this scenario.