Gold is currently testing the intermediate resistance of its medium term bearish channel in 1498 suggesting a decline. However a break of these levels would allow it to reach the upper limit of the channel 1508.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1498 with a 1st objective of 1508, then 1511. A break in 1496 would invalidate this scenario.