FX.co ★ GOLD Intraday Technical analysis

Gold is currently testing support level of its medium-term downtrend channel at 1384 and seems to start a rebound. However a breakout of this zone will result in an acceleration toward the lower limit of its channel to 1370.

According to previous events, the market indicates a bullish opportunity on the levels of 1384 with a 1st objective of 1397, then 1404. A breakthrough in 1382 will invalidate this scenario.