FX.co ★ GOLD Intraday Technical analysis

Gold is currently testing the upper limit of its medium-term bullish channel to 1416 suggesting a decline in the short term. However a break in that area would free up significant potential and beginning of an upward trend is more violent.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1416 with a 1st objective of 1427, then 1437. A break in 1414 would invalidate this scenario.