FX.co ★ GOLD Intraday Technical analysis

Gold is currently testing the upper limit of its medium-term downtrend channel at 1356. A breakthrough of this area will release a significant potential for the beginning of an upward trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken its resistance level at 1356 with a 1st objective of 1370, then 1375. A breakout at 1354 will invalidate this scenario.