FX.co ★ GOLD Intraday technical analysis

Gold is approaching the upper limit of its medium-term downtrend channel at 1348. A breakthrough of this area will release a significant potential for an upward trend.
According to previous events, the market indicates a bullish opportunity since the spot rate has broken out its resistance level at 1348 with a 1st objective of 1361, then 1366. A breakthrough of 1346 level will invalidate this scenario.